Vietjet Develops E-logistics, Pays 20 Per Cent Stock Dividend

Nguyễn Thị Phương Thảo, CEO of Vietjet, and other members of the Board of Directors at the meeting. Photo courtesy of Vietjet

HCM City - Vietjet Aviation Joint Stock Company on May 28, held the 2022 Annual General Shareholders’ Meeting to review its business performance against the pandemic, the last five-year term of the Board of Directors, and to vote on the 2021 audited financial statements and the development plan for 2022.

Shareholders at the meeting passed a resolution on the business plan for 2022, in which Vietjet eyes to expand its fleet to 82 aircraft, operating 100,000 flights and transporting 18 million passengers.

The shareholders have also voted to pass a resolution to pay a 20 per cent stock dividend from accumulated undistributed profits from the years before the pandemic.

The airline this year plans to earn more than VNĐ22.3 trillion (US$959 million) in air transport revenue and make a profit.

In 2021, Vietjet was reported to gain a consolidated revenue of nearly VNĐ13 trillion with a profit after tax of VNĐ80 billion. As of December 31, 2021, the budget carrier assets totalled about VNĐ51.654 trillion.

Its debt-to-equity ratio stayed at 0.9 while the liquidity ratio was at 1.6 - all considered good indicators in the aviation industry.

Last year, Vietjet bounced back and expanded its flight network, offering everyone more opportunities to fly, and joined hands with localities contributing to its economic recovery.

It operated 40,000 flights, transporting more than 5.4 million passengers over 50 domestic and international routes. It also airlifted more than 63,000 tonnes of cargo, reporting revenue growth of 200 per cent year-on-year.

To prepare for the post-pandemic recovery, Vietjet has signed a strategic partnership agreement with Airbus on the deliveries of aircraft orders and cooperation to develop the airline’s wide-body fleet.

President & CEO Nguyễn Thị Phương Thảo added that Vietjet was considering adding freighters into its fleet to promote cargo transport, e-logistics, express delivery, and guaranteed shipping, making cargo transport a key business sector of Vietjet.

Regarding the rising fuel prices, Vice President Tô Việt Thắng said that Vietjet had carried out a series of solutions to monitor fuel costs, including saving fuel thanks to the new and advanced fleet.

Vietjet has fully resumed its entire domestic network and is ready for international flights. VNS