Vietjet Achieves Record Growth and Expands International Flight Network in 2024
Vietjet reports significant growth in 2024, increasing revenue and expanding its international routes along with fleet upgrades.
Vietjet Achieves Record Growth and Expands International Flight Network in 2024
Vietjet has reported strong growth in 2024, expanding its international flight network, upgrading its fleet, and achieving record revenue and profits.
Breakthrough Revenue Driven by Post-Pandemic Growth
In Q4 2024, Vietjet’s aviation revenue reached VND 19.776 trillion (approx. SGD 1.061 billion), marking a 36% year-on-year (YoY) increase, while after-tax profit surged 247% to VND 167 billion (approx. SGD 8.97 million). Total revenue for the entire year reached VND 71.545 trillion (approx. SGD 3.835 billion), up 33% YoY, while after-tax profit skyrocketed 697% to VND 1.301 trillion (approx. SGD 69.78 million). As of 31 December 2024, Vietjet’s total assets were nearly VND 99.5 trillion (approx. SGD 10.709 billion), with a debt-to-equity ratio of 2.12 and a liquidity ratio of 1.71, both within safe industry standards.
In 2024, Vietjet transported over 25.9 million passengers on 137,000 flights across 145 routes, including 44 domestic and 101 international routes. It led Vietnamese carriers in passenger volume and added 10 new aircraft, achieving an 87% load factor and a 99.72% technical reliability rate.
Vietjet’s Global Push: First U.S. Flight and Beyond
Vietjet’s strong results highlight its strategy to expand internationally while reinforcing its domestic network. In Q4 2024, it launched direct flights from Da Nang to Ahmedabad (India) and Hanoi to Kuala Lumpur (Malaysia), while increasing frequencies to key destinations like South Korea and Japan.
Vietjet also signed a cooperation agreement with Emirates to enhance connectivity between Vietnam, Dubai (UAE), and global destinations. New direct routes to Hyderabad and Bangalore (India) as well as Beijing and Guangzhou (China) are set to further strengthen ties with these high-potential markets.
Vietjet made history with its first-ever flight from Vietnam to the U.S., engaging in discussions worth VND 352.465 trillion (approx. SGD 18.94 billion) with key U.S. partners. This comes after previous deals with Boeing, GE, CFM, Pratt & Whitney, and Honeywell, totaling nearly VND 1,258.953 trillion (approx. SGD 67.65 billion). The airline is also exploring partnerships with SpaceX and in-flight internet providers to enhance digital capabilities and customer experience.
In 2025, Vietjet is focused on further expanding its international network to strengthen connections between Vietnam and the world, while prioritizing sustainability and technological innovation to drive global trade, investment, and cultural exchange.
