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Vietjet listed in the top 50 airlines worldwide by Airfinance Journal

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For the first time, Vietjet as a new age carrier from Vietnam, has ranked among the world’s 50 best airlines (22nd) by Airfinance Journal, one of the leading magazines in the aviation finance sector.

The announcement from Airfinance Journal provided financial status and health information after surveying 162 airlines around the world, including traditional airlines and low cost carriers.

Vietjet was listed in the world’s 50 best airlines for healthy financing and operations, with a better ranking than many prestigious airlines. Financial ranking is based on the latest trailing twelve month data (LTM), evaluating 5 indicators including:

–          Average age of the fleet

–         Earnings ratio before interest, taxes, depreciation, amortization, and rent costs over revenue (EBITDAR/ Revenue)

–          Fixed charge cover: EBITDAR/ Net Income + Rent

–          Liquidity as % of Revenue

–          Adjusted Net Debt/ EBITDAR

According to the scorecard, Vietjet achieved total revenues of USD995 million in the last 12 months, and the average age of its fleet was 3.2 years. Profit before tax, interest, depreciation and rent cost to revenue ratio was 31.4%. Fixed Charge Cover was 2 times, whilst Liquidity is 30.4% of revenue.