Vietjet reports strongest business year post-pandemic with Record Growth in 2024

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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), a 36% year-on-year (YoY) increase, while after-tax profit rose 247% to VND 167 billion (approx. SGD 8.97 million). For the entire year, Vietjet’s aviation revenue reached VND 71.545 trillion (approx. SGD 3.835 billion), up 33% YoY, while after-tax profit surged 697% to VND 1.301 trillion (approx. SGD 69.78 million). As of 31 December, 2024, Vietjet’s total assets stood at 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. 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 Ha Noi to Kuala Lumpur (Malaysia), while increasing frequencies to key destinations like South Korea and Japan.

Vietjet also signed a cooperation agreement with Emirates to boost connectivity between Vietnam, Dubai (UAE), and global destinations. New direct routes to Hyderabad and Bangalore (India), as well as Beijing and Guangzhou (China), will further strengthen ties with these high-potential markets.

Vietjet made history with its first-ever flight from Vietnam to the U.S., holding talks worth VND 352.465 trillion (approx. SGD 18.94 billion) with key U.S. partners. This builds on previous deals with Boeing, GE, CFM, Pratt & Whitney, and Honeywell, totalling 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 expanding its international network to strengthen connections between Vietnam and the world, while prioritising sustainability and technological innovation to drive global trade, investment, and cultural exchange.

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