Vietjet Annual Shareholders’ Meeting 2016 – 2017

Vietjet Air Cabin Crew and Aircraft

Vietjet Air Cabin Crew and Aircraft

Ho Chi Minh City, 20 April 2017 – Today, Vietjet Aviation Joint Stock Company successfully organized the Annual Shareholders’ Meeting 2017. The meeting has reviewed the airline’s operation in 2016, approved the business plan for 2017 as well as the contents related to the management and administration.

 

ACHIEVEMENTS IN 2016

Report of business results in 2016 submitted to the meeting shows that Vietjet achieved positive business results in 2016. The airline operated 84,455 safe flights, recorded high percentage of OTP at 83.57% and of technical reliability at 99.57%, being listed in the top airlines that operate A320/A312 family in the region. Flight operation, ground operation and engineering safety indicators are listed in the group of highest quality airlines in the region. The airline also recorded in 2016 its turnover of 27,499 billion dong, after tax profit of 2,496 billion dong, an increases of 38.6 percent and 113.2 percent respectively compared to 2015, exceeding 3 percent and 9 percent respectively over the target. Earnings per share stood at 9,586 dong.

In 2016, Vietjet received 12 new aircraft, increasing its fleet to 41 aircraft including 30 A320 and 11 A321 aircraft, transporting 14.05 million passengers, an increase of 50.9% compared to 2015, leading the domestic market.

 

2017 PLAN –THE FIRST YEAR OF THE FIVE-YEAR 2017 – 2022 PLAN, SUSTAINABLE GROWTH

The company develops a sustainable development program, invests in enhancing internal human resources, protecting the environment, carrying out corporate social responsibilities, companying with the national tourism development strategy, promoting local economic development, popularizing cultural practices and aviation civilization in passengers and community. In 2017, Vietjet is committed to operating the airline with top priorities on safety and reliability, continuing to innovate to improve service quality and operation efficiency and managing the listed company as per international standards and in accordance with Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS).

“Vietjet is ready to conquer new heights. I am confident that there is a bright future in the air and Vietjet is making every effort to bring it closer,” said Vietjet Chairwoman Nguyen Thanh Ha.

 

AGREEMENT OF SHAREHOLDERS ON ACTION PLAN IN 2017

Vietjet shareholders’ meeting ended successfully with all reports and proposals being approved at the rate of 100%, including:

+ Agree to allocate profit with an average rate of 118.71%. Vietjet expects to pay 10% dividend in cash on May 10, 2017. In addition, the company will also pay BONUS share dividend of 40% to shareholders to bring back the best value to shareholders.

+ Set revenue target of 42,018 billion dong, profit after tax of 3,395 billion dong and pay cash and stock dividends of 50% in 2017.

+ Agree to request for scrapping the foreign ownership cap