- VJC announced 9M 2023 revenue of VND43.7tn (USD1.9bn; +86.8% YoY) and net profit of VND217bn (USD9.2mn; +167% YoY). VJC's 9M 2023 revenue and net profit are equal to 73.3% and 22.0% of our respective 2023F forecasts. We see potential downside risk to our current projections regarding net profit, pending a more extensive review. 

- In Q3 2023, VJC’s revenue advanced 22.7% YoY to VND14.2tn (USD606mn) with NPAT-MI of VND135bn (USD5.7mn; +232% YoY and -37% QoQ). 

- VJC’s passenger transportation revenue surged up by 33% YoY in Q3 2023. With the introduction of 7 new international routes, VJC has 125 total destinations (45 domestic and 80 international) as of end-Q3 2023. Per the airline, its number of flights and carried passengers amounted to 36,000 (+3% YoY) and 6.8 million (6% YoY) in Q3 2023, respectively. Furthermore, VJC’s 9M 2023 cargo volume amounted to 20,300 tonnes (+76% YoY).

Powered by Froala Editor