(Hong Kong, April 21, 2017) – Vietjet is to embark on a Five-year Plan to enable sustainable growth beginning 2017. The ambitious plan was announced at the Annual Shareholders’ Meeting of the Vietjet Aviation Joint Stock Company in Ho Chi Minh City.
The program, focusing on sustainable development, involves investments in enhancing internal human resources; protecting the environment; carrying out corporate social responsibilities; complementing national tourism development strategy; promoting local economic development; popularizing cultural practices and aviation civilization among passengers and in the community.
In 2017, Vietjet is committed to operating the airline with top priorities on safety and reliability, continuing to innovate and improve service quality and operation efficiency and managing the recently listed company in accordance with international standards and the Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS).
“Vietjet is ready to conquer new heights. I am confident that there is a bright future in the air and Vietjet is making every effort to bring it closer," said Vietjet Chairwoman Nguyen Thanh Ha.
The meeting also reviewed the operation of the fast growing new-age carrier in 2016, approved the business plan for 2017 as well as the contents related to management and administration.
ACHIEVEMENTS IN 2016
Report of business results in 2016 submitted to the meeting showed that Vietjet achieved positive business results in 2016. The airline operated 84,455 safe flights, recorded high percentage of OTP at 83.57% and of technical reliability at 99.57%, being listed in the top airlines that operate A320/A312 family in the region. Flight operation, ground operation and engineering safety indicators are listed in the group of highest quality airlines in the region. The airline also recorded in 2016 its turnover of 27,499 billion dong (USD1.21 billion), after tax profit of 2,496 billion dong (USD109 million), an increase of 38.6 percent and 113.2 percent respectively compared to 2015, exceeding 3 percent and 9 percent respectively over the target. Earnings per share stood at 9,586 dong (USD0.42).
In 2016, Vietjet received 12 new aircraft, increasing its fleet to 41 aircraft including 30 A320 and 11 A321 aircraft, transporting 14.05 million passengers, an increase of 50.9% compared to 2015, leading the Vietnam domestic market.
AGREEMENT OF SHAREHOLDERS ON ACTION PLAN IN 2017 All reports and proposals presented at the Vietjet Shareholders’ Meeting were approved at the rate of 100%, including:
+ Agree to allocate profit with an average rate of 118.71%. Vietjet expects to pay 10% dividend in cash on May 10, 2017. In addition, the company will also pay a share dividend of 40% to shareholders to bring the best value to shareholders.
+ Set revenue target of 42,018 billion dong (USD1.85 billion), profit after tax of 3,395 billion dong (USD149 million) and pay cash and stock dividends of 50% in 2017.
+ Agree to request for scrapping the foreign ownership cap
About Vietjet:
Vietjet is the first airline in Vietnam to operate as a new-age airline with low-cost and diversified services to meet customers’ demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers. Vietjet is a member of the International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. The airline was also named as one of the Top 500 Brands in Asia 2016 by global marketing research company Nielsen and “Best Asian Low Cost Carrier” at the TTG Travel Awards 2015, which compiles votes from travelers, travel agencies and tour operators in throughout Asia. The airline was also rated as one of the top three fastest growing airline brands on Facebook in the world by Socialbakers.
Currently, the airline boasts a fleet of 45 aircraft, including A320s and A321s, and operates 350 flights each day. It has already opened 63 routes in Vietnam and across the region to international destinations such as Thailand, Singapore, South Korea, Taiwan, Malaysia, China and Myanmar. It has carried nearly 35 million passengers to date.
Looking ahead, the airline plans to expand its network across the Asia Pacific region. To prepare for this plan, Vietjet has signed agreements with the world’s leading aircraft manufacturers to purchase more brand-new and modern aircraft.
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