Vietnam's budget private carrier Vietjet Air was named "Best Value Airline of the Year" for 2022 by Australia-based AirlineRatings.com, an air quality assessment organization, for its "low fares, superb cabin crew and innovation."
Airlineratings.com Editor-in-Chief Geoffrey Thomas commented that the airline is "extremely clever in its marketing and has amazing fares, but that behind the scenes lies a very smart and serious business plan that brings affordable travel to millions."
"The airline has a very modern fleet of Airbus aircraft and operationally is up there with the very best. Vietjet is a critical part of Vietnam’s booming economy and is enabling tourism to soar. The airline’s value to Vietnam cannot be measured in just passenger numbers," he added.
Vietjet Air also placed in the top 10 low-cost airlines, with the winners including Allegiant Air, AirAsia, EasyJet, Jetstar, Flair, Fly Dubai, Ryanair, Scoot, Southwest and Vietjet, according to the rating agency.
The carrier was the first private airline in Vietnam to offer domestic and international services. It has carried more than 90 million passengers and covered over 116 routes across the Asia-Pacific region. Vietjet is a member of International Air Transport Association with an IATA Operational Safety Audit certificate and technical reliability rate standing of 99.64%.
However, the airline has grown notorious for delayed flights. Domestic carriers in June recorded more than 5,600 delayed flights, accounting for 18.2% of services, up 9% compared to May. Of the number, Vietjet operated nearly 2,900 delayed flights, up 20% over the same period last year, according to the Civil Aviation Administration of Vietnam.
In the first quarter of the year, Vietjet's consolidated revenue and after-tax profit hit VND4.522 billion ($192.88 million) and VND244 billion ($10.41 million), respectively, up 12% and up 98% year-on-year. Of this, its air transport revenue reached VND3,340 billion ($142.48 million), a 17% rise year-on-year.