In a committed move set to redefine aviation benchmarks, Vietjet Aviation Joint Stock Company unveils its audacious targets for 2024, promising a surge in passenger volume and robust dividend payouts.

Amidst its General Meeting of Shareholders (GMS) backdrop, Vietjet charts a course aiming to consolidate its dominant position in the domestic market while aggressively expanding its global footprint.

The company’s sights are firmly set on surpassing the VND59 trillion (approx. US$2.32 billion) mark in air transport revenue, with an ambitious 10% YoY growth projection. Consolidated revenue is anticipated to soar to VND65.5 trillion (approx. US$2.57 billion), reflecting a formidable 12.4% YoY upsurge. Vietjet aims to operate a staggering 142,000 flights to accommodate this expansion, carrying over 27.4 million passengers.

The hallmark of Vietjet’s shareholder-centric approach is the pledge to distribute dividends, both in cash and stock, at a maximum ratio of 25%. This commitment underscores the company’s determination to reward its stakeholders while fueling further growth.

Vietjet’s 2024 Annual General Meeting of Shareholders was held in HCMC on April 26.

Building upon its stellar performance in Q1/2024, Vietjet signals its readiness to sustain momentum throughout the year. With air transport revenue clocking in at VND17.76 trillion (approx. US$701 million) and after-tax profit at VND520 billion (approx. US$20.5 million), the company notches an impressive 38% and 209% YoY growth, respectively. Bolstered by these figures, Vietjet’s consolidated revenue and after-tax profit register a commendable 38% and 212% YoY increase, affirming its trajectory of sustained success.

The airline’s strategic push into international markets is evident from its robust performance metrics. International passenger transport witnessed a remarkable surge of over 53% and 61% YoY in flights and passengers, respectively, during Q1/2024. Vietjet’s agile approach is further underscored by adding 15 new routes, bolstering its operational presence to 140 routes worldwide. Notable among these expansions are routes connecting Vietnam to key destinations in Asia and beyond, including Taipei, Chengdu, Xi’an, Vientiane, Hiroshima, and Sydney/Melbourne.

Financially robust and operationally agile, Vietjet stands poised at the vanguard of the aviation industry. The company demonstrates a steadfast commitment to financial prudence with total assets exceeding VND85.82 trillion (approx. US$3.38 billion) and commendable debt-to-equity and liquidity ratios.

Beyond its operational prowess, Vietjet’s foray into international research and technology investments underscores its commitment to innovation and global integration. By bridging nations and fostering connectivity, Vietjet cements its position as a trailblazer in the aviation domain.

In essence, Vietjet’s ambitious targets for 2024 signal a paradigm shift in the aviation landscape, poised to redefine industry benchmarks and propel the company to greater heights of success.