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Vietjet’s revenue leaps 56% in 2023

The Saigon Times

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HCMC – Vietjet Aviation JSC, which trades its VJC shares on the Hochiminh Stock Exchange, saw its 2023 revenue jumping by 56% over the previous year.

Its 2023 consolidated earnings report put its revenue at VND62.5 trillion and its after-tax profit at VND344 billion.

The private air carrier last year operated 133,000 flights and transported 25.3 million passengers, including 7.6 million international passengers.

In the fourth quarter of last year alone, its revenue surged by 49% over the same period of the previous year, at VND18.8 trillion, while the firm posted net profit of VND152 billion.

As of December 31, 2023, Vietjet’s total assets had amounted to VND84.6 trillion, up by nearly 25% versus early last year.

The company’s debt-to-equity ratio remained two times, well below the global aviation industry range of 3 to 5 times.

Throughout 2023, Vietjet focused on strategic expansion by adding 33 new routes, with 80 international and 45 domestic flights. The airline achieved a seat occupancy rate of 87% and a technical reliability rate of 99.72%.

Closing the trading session today, January 31, VJC inched down by 0.95% to VND104,600 per share, with a matching volume of 644,900 shares.

Losers nearly quadrupled winners on the Hochiminh Stock Exchange by a ratio of 393 to 101. As a result, the VN-Index dropped by 1.3% over the previous session to 1,164.31 points.

Stock trade rocketed by 80.7% in volume and 70% in value compared to the session earlier, with more than 1.1 billion shares valued at VND23.3 trillion changing hands. Block deals contributed 98.4 million shares and over VND2 trillion.

Bank stocks were the main drags of the benchmark index today, as all of them were decliners. SHB tumbled by 5.7% to VND11,600 per share but it took the lead by liquidity on the southern market with a trading volume of over 127.1 million shares.

Securities stock SSI was the second most actively traded stock, with over 44.8 million shares matched.

The Hanoi Stock Exchange saw 64 advancers and 94 decliners, as well as a trading volume of 98.4 million shares and a value of VND1.8 trillion. The HNX-Index dropped by 1.49 points, or 0.64%, to 229.18 points.

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