Vietjet’s business strategy is not to steal customers from other airlines, but be a pioneer in establishing new routes and finding new opportunities, according to chairwoman Nguyen Thi Phuong Thao.
The airline has been pioneering in forming new routes to India, Australia and Kazakhstan, said Thao at the company’s annual general meeting Wednesday.
“Once Vietjet has taken the lead, other airlines will follow to gain from India, one of the world’s biggest aviation markets, or Australia, a very attractive and unique destination,” she said.
Dinh Viet Phuong, who has recently been given the CEO chair to replace Thao, said that Vietjet would launch more routes to India, Japan and South Korea this year.
The airline is now operating 100 routes. It has 77 jets with an average age of less than seven years, which is younger than its competitors Vietnam Airlines and Bamboo Airways.
The airline plans to increase its fleet to 87 this year, including three new Airbus aircraft A321neo ACFs which can sit up to 240 passengers.
Phuong added that although many airlines are facing difficulties in having enough aircraft, Vietjet has been promised by both Airbus and Boeing that they will deliver aircraft on schedule.
In July last year Vietjet signed a contract with Boeing to purchase 200 narrow-body aircraft Boeing 737.
Together with other deals with Airbus, Vietjet has 300 aircraft waiting to be delivered.
The company uses many of these for its sales and leaseback activities. In 2019, Vietjet recorded over VND12 trillion ($511 million) from sales and leaseback.
Vietjet targets to transport 25.7 million passengers on 140,000 flights this year with an average occupancy of 87%.
It eyes to hike revenue by 25% to VND50.1 trillion, and turn a profit of VND1 trillion after posting losses last year.
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