BANGKOK, 25 August 2023: Thai Vietjet reports a 103.63% growth in revenue and 10.12% growth in passenger traffic during the first half of 2023.
In a press statement released Wednesday, the airline said its business and operation performances for the first half of 2023 reinforced its operational stability and helped to drive network expansion.
Thai Vietjet maintained positive on-time performance (OTP), one of the most crucial indicators for an airline’s successful flight operation. In Q2/2023, the airline’s OTP reached 82%, while the average OTP of Q4/2022 and Q1/2023 were 59% and 68% respectively. Its technical reliability rate stood at 99.68%.
The airline saw significant growth in passenger traffic, with 10.12% growth compared with H1/2022, recording 3.04 million passengers, of which 729,000 were international. By the end of June 2023, the airline had served 21.54 million passengers since its first commercial flight on 29 March 2015.
Thai Vietjet expanded its operational capacity in the first half of 2023, raising its fleet strength to 18 aircraft, a mix of A320 and A321 aircraft. It operated 547 domestic and 190 international flights weekly during the year’s first half. The average domestic load factor was 85% and 77% for international flights.
Since January 2023, Thai Vietjet and the parent Vietjet Group based in Vietnam operated over 4,200 flights between Thailand and Vietnam and transported over 683,000 passengers.
The two airlines operated flights from Bangkok to Ho Chi Minh City, Danang, Phu Quoc, and Hanoi. In addition, they served the Phuket – Hanoi and Chiang Mai – Ho Chi Minh City routes.
Thai Vietjet’s total revenue grew 103.63% YoY compared to H1/2022. The total revenue was sourced from air tickets (73.20%) and ancillary and in-flight services at 26.72%.
Thai Vietjet continued to expand its route network during the first half of 2023 following network expansion in 2022, resulting in new international services from Bangkok to Singapore, Fukuoka, Taipei, Phnom Penh, Phu Quoc and Danang. In addition, it started four weekly flights between Chiang Mai and Osaka.
Looking forward
The second half of 2023 will continue to see digital service and operational enhancement as the airline’s most important focus to draw more passengers. It will also focus on international expansion studying opportunities to launch new international routes across the Asia-Pacific region.
In terms of fleet expansion, Thai Vietjet will add two more aircraft to its fleet, giving it 20 A320 and A321 aircraft to support its expanding network.
By the end of 2023, Thai Vietjet targets 72% growth in revenue and 9% in passengers. It expects to close the year, having served 6.31 million passengers.
