VietJet Posts USD$16.8 Million Q1 Profit

April 24, 2017

Low cost Vietnamese carrier VietJet Air posted a first quarter net profit of VND381.65 billion (USD$16.8 million) on higher revenue.

First quarter revenue came in at VND5.1 billion, up 43.2 percent compared to 2016, as international revenue rose sharply. Costs ex fuel dropped 4.1 percent, but fuel costs jumped 46 percent from 1Q16.

VietJet carried 3.7 million passengers in the quarter to end March, an increase of 29.4 percent as it launched three new international routes.

The airline said it will receive its first Airbus A320neo during the second quarter, the first of an order for 42 of the type. VietJet also has 31 A321neos on order.

(Airwise)