Vietjet AGM 2018
Vietjet continues leading the trend, maintains high growth with expanded international routes
Vietjet Aviation Joint Stock Company (stock code VJC – HOSE) achieved revenue of VND42,303 billion and after tax profit of VND5,073 billion, an increase of 54 percent and 73 percent respectively over 2016 according to audited consolidated financial statements of 2017. Earning per shares reached VND11,356.
Following the positive business results, Vietjet’s Board of Directors received approval from the shareholders to increase the dividend payment of 2017 from 50 percent to 60 percent. Accordingly, the company advanced 30 percent dividend payment in cash and will pay a cash dividend of 10 percent on 25th May. Vietjet will pay a dividend of 20 percent by shares.
For 2018, Vietjet has targeted a revenue of VND50,970 billion and VND5,800 billion in profit, an increase of 20.5 percent and 10 percent respectively compared to that of 2017. The Board of Directors are submitting and getting approval from shareholders to increase the 2018 dividend payment to 50 percent.
This was announced at Vietjet’s recent Annual General Shareholders Meeting 2018 which witnessed a 91.74 percent shareholders participation and high approval ratings for all issues raised during the AGM.
In a report presented by Vietjet Managing Director Mr. Luu Duc Khanh, on behalf of the Management Board, it was noted that 2017 marked a year of success for the company in various aspects.
Specifically, Vietjet received 17 aircraft, including the first A321 Neo in Southeast Asia. With its on-going cost saving efficiency, Vietjet has maintained a most efficient operating cost in the region. Meanwhile, indicators of operation safety and ground operation were at the highest in the region. The airline’s technical reliability reached 99.66 percent, the highest level for the Airbus A320/321 fleet.
In supporting the expansion of its flight network domestically as well as to the North Asia region, Vietjet operated 38 domestic routes and 44 international routes, connecting the cities of more than half of the world’s population.
Last year, the company operated 98,805 safe flights, transporting 17.11 million passengers – an increase of 22 percent over 2016. In tandem with the increase in volume of international passengers and international charters, ancillary income increased in proportion to the number of flights.
Earlier on 28 February 2017, Vietjet celebrated the listing of its shares on the Ho Chi Minh Stock Exchange (HOSE), to which the Board of Directors made a commitment to apply international standards in corporate governance, management and information transparency.
The company is expecting to see continued strong growth in Vietnam’s aviation market as well as across the region, with a forecast of record GDP growth. Vietjet also notes the promotion of tourism by the Vietnamese government as a key economic sector will contribute to attracting hordes of foreign tourists to Vietnam.
With the expansion and increasing frequency of international routes to Japan, India and Australia, Vietjet on track to becoming a multinational airline with global vision and competitive ability.