The Australian aviation industry may be a tale of woe right now, but in Asia, airlines are reporting impressive profits.
The closure of Bonza, and Rex being placed into administration impacted flyers in Australia, but successful Vietnamese airline Vietjet saw its revenue grow by 15% in the first half of 2024.
The independent carrier also reported profits 21% higher than its annual target and recently flew its 200 millionth passenger.
Founded in 2007, tt was the first privately owned airline to be established in Vietnam.
In the first six months of 2024, Vietjet’s operations outperformed pre-pandemic 2019 with the airline transporting a total of 13.1 million passengers on 70,154 safe flights from January-June 2024.
In the second quarter of the year, Vietjet reported a pre-tax profit of VND517 billion (approx. US$20.57 million).
Vietjet is now operating over 149 routes across Vietnam and internationally, including 38 domestic and 111 international routes.
In Australia, Vietjet has added two routes from Hanoi to Melbourne and Sydney, bringing its total number of routes between Vietnam and Australia to seven.
Together with the first five routes from Ho Chi Minh City to the five largest cities in Australia (Adelaide, Brisbane, Melbourne, Perth, and Sydney), Vietjet is now the airline operating the most routes between Vietnam and Australia with 58 flights per week.
Vietjet is offering a week-long promotion from August 2-8 (GMT+7), with tickets priced for as low as $199 on international routes connecting Australia and Vietnam and other Vietnamese domestic routes.
The travel period is from September 4, 2024, to May 222, 2025. The availability of discounted seats varies depending on the route and travel dates.
* Check out my report on the Vietjet experience coming up in October.
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