VietJet Air saw its operating profit in 2019 decline 14.3% to D4.98 trillion ($211 million), down from the previous year’s profit figure of D5.8 trillion.
Consolidated revenue for the year ended 31 December 2019 declined 2.8% to D52 trillion. Net profit meanwhile fell 20.9% to D4.22 trillion.
Cash and cash equivalents at 31 December 2019 amounted to D6.08 trillion, lower than the D7.16 trillion it had at the start of 2019.
In an investor presentation, VietJet’s statistics show that the low-cost carrier’s passenger numbers in 2019 rose 9% to 25 million. The number of routes operated during the year rose from 105 to 139, but its load factor fell 1.1 percentage point to 87%.
It also stated that its cost per ASK in 2019 was 3.9 cents, and that excluding fuel, this was at 2.4 cents.
The airline ended 2019 with 69 Airbus narrowbodies, comprising 22 Airbus A320s, 33 A321ceos and 14 A321neos.
Earlier on 17 April, VietJet said it had reached agreements to extend the payment time of 75% to 80% of its aircraft agreements with “international aircraft financial institutions, credits from HSBC, Citibank… and big domestic banks”.
The move will allow the airline to expand its financial resources, with a focus on areas such as improving its quality of service, expand its cargo business, as well as to enhance and develop its e-commerce solutions and cost management system.