VietJet posts posts D382 profit in Q1 2017

VietJet Air posted a net profit of D381.7 billion ($16.8 million) in the first quarter of 2017.

Revenue for the quarter to 31 March was up 44.2% to D5.1 trillion. This was 10.6% above its target, says the low-cost carrier.

Operating costs excluding fuel per ASK fell to $0.234 from $0.244. Cash and its equivalents stood at D944 billion.

During the quarter, passenger numbers grew 29.4% year-on-year to 3.7 million. The growth was partly led by the launch of three new international routes, while its load factor was at a respectable 88%.

While it did not receive any aircraft in the first three months of 2017, VietJet plans to take delivery of its first Airbus A320neo family aircraft this year.

FlightGlobal schedules data shows that the airline is scheduled to receive the first A320neo in August, as well as 16 A321s this year. It now operates 37 Airbus A320 family aircraft.

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