At the ceremony to announce “Top 100 most valuable brands in Vietnam” on August 15, Vietjet Aviation Joint Stock Company was honored as one of the 100 most valuable brands in Vietnam in 2023.
The announcement ceremony of “Top 100 most valuable brands in Vietnam” was organized by Brand Finance, the world’s leading organization in brand valuation, in collaboration with Mibrand Vietnam. The 2023 list gathers most of the key enterprises of the Vietnamese economy.
According to the report, in the aviation sector, Vietjet has the highest growth in brand value at 11%, reaching a value of 361.58 million USD. Vietjet’s brand revenue recorded an increase of 15% to 11,355 billion VND, equivalent to about 483 million USD.
Brand Finance assessed that airline brands contributed the 9th most in the ranking, with a total brand value of 738 million USD (about 2% of the total value of all brands on the list). In addition, the total brand value of airline brands improved by 8%.
Vietjet maintains its brand strength rating at AA+. As one of the most valuable brands in Vietnam, Vietjet actively contributes to the recovery and development of the country’s economy after the Covid-19 pandemic.
On the basis of actual operations, Vietjet’s brand value recorded impressive growth this year. In the first 6 months of the year alone, the airline operated 65,900 flights, transported over 12.1 million passengers (including 3.5 million international passengers), up 26% and 30% over the same period.
In the first 6 months, Vietjet recorded a consolidated revenue of VND 29,770 billion, up 87% and completing 60% of the year plan. The ancillary revenue segment maintained a high growth rate, reaching VND9,000 billion, double the same period and contributing 40% of total revenue. Consolidated profit after tax reached VND 387 billion, up 167% over the same period.
In the first 6 months of the year, Vietjet contributed VND 2,795 billion in direct and indirect taxes and fees to the budget.
Thanks to its ability to flexibly exploit multiple revenue sources outside of its main business and maintain positive profits during the Covid-19 pandemic, Vietjet received a BB+ credit rating from Saigon Ratings with a Stable outlook (VnBB+).
In particular, Vietjet affirms its position as one of the leading global low-cost airline service providers with two awards “Best Low-Cost Airline with Best In-flight Service in 2023” and “Airline of the Year 2023” world’s best super-saving airline in 2023” voted by AirlineRatings.
Stable exploitation of the domestic market, pioneering in opening international routes, meeting the needs of trade between Vietnam and other countries, Vietjet has gradually affirmed its position as one of the most efficient airlines in the world and strong financial foundation.
Currently, Vietjet has become a multinational airline, contributing to expanding trade, developing tourism and enhancing cultural exchanges at all destinations.
The success in the international market helps Vietjet become an “aviation ambassador” – pioneering and actively connecting Vietnam in particular as well as Southeast Asian countries in general with nearly 100 global destinations.