In the third quarter, thanks to the expansion of new routes and operational improvements to existing routes, Vietjet’s revenue and profit increased significantly compared to the same period last year, and exceeded the company’s targets.

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Vietjet posts a pre-tax profit of more than 2.98 trillion VND (131 million USD) in the first nine months of this year (Photo for illustration: Vietjet) 

Vietjet’s pre-tax profit stood at over 1 trillion VND in the third quarter, up 35.1 percent year-on-year. Air transport revenue reached 6.14 trillion VND, an increase of 34.4 percent compared to the same period of 2016.

As of September 30, Vietjet’s total assets stood at above 26.28 trillion VND (1.15 billion USD), surging 57.4 percent year on year.

During the nine-month period, besides adding five additional airplanes, Vietjet launched 13 new routes, increasing the total number of routes to 73, including 38 domestic routes and 35 international ones. Notably, Vietjet’s on-time performance ratio in the nine-month period was 85.4 percent.

In the fourth quarter, the company is expected to open six new routes, raising the total number of new routes this year to 19.

Based on the current business results, the firm estimated its pre-tax profit in 2017 could exceed the target, approved at the annual shareholder meeting, by 10 percent.

Source: VNA