03:56 (GMT +7) - Saturday 23/06/2018

Business

Vietjet CEO registers to buy 500,000 shares in carrier

Released at: 16:45, 30/05/2018 BUSINESS SPOTLIGHT

Vietjet CEO registers to buy 500,000 shares in carrier

Photo: Vietjet

Mr. Luu Duc Khanh to part with some $3.28 million.

by Hai My

Mr. Luu Duc Khanh, CEO of the Vietjet Aviation Joint Stock Company (Vietjet Air, HSX code: VJC), has registered to buy nearly 500,000 VJC shares, costing nearly VND75 billion ($3.28 million), by order matching from June 4. VJC shares were trading at around VND147,000 ($6.4) on the morning of May 30.

Vietjet recently approved a share dividend payment of 20 per cent on July 2, with an ex-dividend date of June 29.

As at the end of the first quarter, Vietjet’s revenue stood at VND12.5 trillion ($546.2 million), up 146 per cent year-on-year on the back of growth in both passenger transport and auxiliary revenue. The quarter also saw revenue from ownership transfers and rental aircraft. The after-tax profit of shareholders of the parent company was VND1.3 trillion ($56.8 million), up 263 per cent. Basic earnings per share was VND3,026 ($0.13), which is one of the highest levels on Vietnam’s stock market.

Vietjet Air is the first airline in Vietnam to operate under the new low-cost model and to provide a wide range of services to customers, such as e-commerce.

It currently operates 60 A320 and A321 aircraft on more than 385 flights a day and has carried more than 60 million passengers to date to 82 destinations in Vietnam as well as to Hong Kong, Singapore, South Korea, Taiwan, China, Thailand, Indonesia, Myanmar, Malaysia, and Cambodia, among others.

The airline plans to expand its Asia-Pacific and regional network and has signed orders for modern aircraft with the world’s leading aircraft manufacturers.

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