Vietjet’s revenue up 44% in Q1

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Its aviation transport revenue stood at VND5,095 billion, an increase of 44.2 per cent compared to the same period of the previous year and exceeding the target by 10.6 per cent. 
The company’s revenue proportion for international routes rose sharply, while its profit rose 6.8 per cent compared to the same period last year.
Its profit before tax and profit after tax stood at VND432.64 billion and VND381.65 billion, respectively.
The airline carried 3.7 million passengers in the first quarter, an increase of 29.4 per cent compared to the same period of 2016.
In the first quarter, Vietjet launched three international routes, increasing its air routes to 63, with a high load factor of 88 per cent and an OTP of 87.7 per cent, an increase of 4.1 per cent compared to 2016.
Its operation cost (excluding fuel) decreased 4.1 per cent from 2.44 cents to 2.34 cents per ASK.
In the first quarter the worth of its assets reached VND21,727 billion, an increase of 17.37 per cent on the year, in which its cash and cash equivalents sharply rose to VND2,777 billion. 
For the same period in 2016, its cash and cash equivalents stood at VND944 billion. 
All this showed that the company's cash flow was very healthy. 
Its equity rose 69.7 per cent, from VND3,072 billion to VND5,213 billion in the first three months of the year.
In 2017, Vietjet plans to operate A320/A321 neo aircraft, which it says will result in 15 per cent fuel savings.
Vietjet managing director Luu Duc Khanh said: "The company’s operation cost has been within the world's top airlines."
In the first quarter, Vietjet operated 22,353 safe flights and recorded a technical reliability of 99.59 per cent, an increase of 0.02 per cent compared to 2016. 
Its flight operation, ground operation and engineering safety indicators were listed in the group of highest-quality airlines in the Asia Pacific.
Local fuel costs in the first quarter rose to VND17.9 million per tonne on average compared to VND12.33 million per tonne for the first quarter of 2016, an increase of 46 per cent.
The airline’s fuel-cost increase was forecast in its business plan for 2017.
For the first quarter, Vietjet did not receive any new aircraft. 
Starting from the second quarter, the airline will take delivery of new airplanes, meaning its revenue and income from sales and leaseback will not occur. Its consolidated financial statements detail this information.