Vietjet nearly quadruples Q1 net profit on rising passenger numbers
Vietjet nearly quadrupled its Q1 2018 net profit, and the carrier said it is comfortably ahead of financial targets for the year to date. The airline reported a net profit of VND1.4t (US$60m) in Q1, a 263% improvement from the same period last year. Overall revenue increased 146% year-over-year (YOY) to VND12.6 trillion, thanks to increases in passenger numbers, ancillary revenue and sale and leaseback revenue. Vietjet said its Q1 revenue and pre-tax profit were more than 25% ahead of its goals. The company’s air transport revenue increased 52% YOY to just over VND6t, 10% higher than VietJet’s target for Q1. The carrier attributed this to fleet expansion and the opening of new international routes. Ancillary revenue was up by 64% YOY. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-05-07/unaligned/vietjet-nearly-quadruples-q1-net-profit-on-rising-passenger-numbers
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Vietjet nearly quadruples Q1 net profit on rising passenger numbers
Vietjet nearly quadrupled its Q1 2018 net profit, and the carrier said it is comfortably ahead of financial targets for the year to date. The airline reported a net profit of VND1.4t (US$60m) in Q1, a 263% improvement from the same period last year. Overall revenue increased 146% year-over-year (YOY) to VND12.6 trillion, thanks to increases in passenger numbers, ancillary revenue and sale and leaseback revenue. Vietjet said its Q1 revenue and pre-tax profit were more than 25% ahead of its goals. The company’s air transport revenue increased 52% YOY to just over VND6t, 10% higher than VietJet’s target for Q1. The carrier attributed this to fleet expansion and the opening of new international routes. Ancillary revenue was up by 64% YOY. <br/>
