Vietjet ranks high among Vietnam's Top 50 listed companies

Vietjet

Vietjet has secured a prominent position in Forbes Vietnam magazine's annual Top 50 listed companies in Vietnam, showcasing leading businesses from diverse sectors in the country's stock exchange.

According to Vietjet's audited financial statements for 2023, the airline ranks fifth in revenue, with VND58.3 trillion (approximately US$2.28 billion), marking a substantial 45% year-on-year growth. This places Vietjet alongside esteemed companies such as Petrolimex, Hoa Phat, PV Gas, Vinamilk, and FPT among the top ten.

Vietjet’s post-pandemic recovery strategy has significantly strengthened its domestic flight network and expanded its international flight operations. In the previous year, the airline operated 133,000 flights and served 25.3 million passengers, reflecting an impressive 183% year-on-year increase, with over 7.6 million passengers on international routes. These translated to Vietjet’s separate and consolidated revenue of VND53.7 trillion (approx. US$2.16 billion) and VND58.3 trillion (approx. US$2.35 billion), respectively, in 2023. Vietjet has focused on enhancing its eco-friendly fleet, emphasising sustainable development goals, fuel efficiency, and emission reduction initiatives.

Additionally, Vietjet has attained a credit rating of VnBBB-, the highest rating among Vietnamese corporations in accordance with the standards set by Vietnam's Ministry of Finance.

Forbes Vietnam’s 2024 Top 50 listed companies is another highlight following Vietjet's numerous accolades and recognitions, such as being named among the world's 50 Best Airlines for Healthy Financing and Operations by Airfinance Journal.

Vietjet's remarkable success in Australia reflects its overall business performance in 2023. The airline entered the Australian market in April 2023 with its inaugural flights to Sydney and Melbourne via Ho Chi Minh City. This was closely followed by an expansion of flights between Brisbane and Ho Chi Minh City in June 2023, and again followed by a historic expansion to both Perth and Adelaide via Ho Chi Minh City in November 2023, making Vietjet the first Vietnamese airline to fly to both Western and South Australia. In June 2024, Vietjet added direct flights between Hanoi to Melbourne and Sydney, bringing its network of routes to Australia to seven within just over a year of entering the market. It is also the only current Vietnamese airline to have a direct flight between Melbourne and Vietnam’s capital city, Hanoi.

Vietjet has been recognised as one of the 50 most valuable brands in Vietnam, Top 50 Vietnam's best performing companies, Top 10 corporate governance companies on the Vietnam's stock exchange, and among the top 20 listed companies with the highest sustainable development scores according to HOSE rankings.