Vietnamese airline Vietjet surpasses expectations, clinches the Long Thanh airport construction bid
Vietjet Reports Strong First-Half Performance and Expansion Plans
Vietjet, Vietnam's leading low-cost carrier, has reported impressive financial results for the first half of 2025, reinforcing its position as a new-generation airline. The airline achieved separate and consolidated pre-tax profits of 78 per cent and 75 per cent of its annual plan, respectively.
In Q2 alone, Vietjet reported a pre-tax profit of VND815 billion (approximately $31.09 million), and total consolidated revenue of VND17.89 trillion (approximately $682.29 million). Ancillary revenue contributed over VND6.89 trillion (approximately $262.98 million) in Q2, demonstrating the airline's diversified revenue streams.
The airline's liquidity ratio as of June 30 was 1.44, indicating a strong financial position. Meanwhile, its total assets amounted to over VND112.33 trillion (approximately $4.28 billion), reflecting the airline's growth and expansion.
Vietjet's growth is not limited to financials. The airline has an in-service passenger fleet of 219 aircraft, mostly comprising A320-family jets along with 24 A330neos. The airline's firm orderbook includes 402 aircraft, primarily 321neos—including 20 A321XLRs—and 15 additional A330neos, indicating significant planned expansion beyond its current operational fleet.
One of the key strategic moves is Vietjet's win in the bid for the investment and construction of aircraft maintenance services at Long Thanh Airport. This project is part of a comprehensive aircraft maintenance complex serving domestic airlines.
Vietjet is also taking charge of ground services at the country's largest airports. The airline recently ordered an additional 20 wide-body A330neo aircraft from Airbus, bringing its total A330neo orders to 40.
At the 2025 Paris Air Show, Vietjet placed a new order for 100 aircraft and 50 options for new Airbus A321neo aircraft. This represented the largest aircraft order at the show.
In a significant move, Vietjet doubled its A330neo commitment to 20 aircraft, positioning the airline for broader regional growth beyond Vietnam.
Vietjet's expansion plans are not limited to aircraft orders. The airline operated a total of 154 routes (109 international and 45 domestic) as of the end of Q2. The total freight volume transported during Q2 approached 29,000 tons.
On the leadership front, Vietjet announced the appointment of Nguyen Thanh Son as the company's managing director.
In summary, Vietjet operates just over 200 aircraft currently but has a large orderbook of over 400 aircraft, mostly newer, fuel-efficient models, signaling aggressive expansion plans in the coming years. The airline's financial performance, strategic moves, and growth plans position it as a major player in Southeast Asia.
[1]: Source: Reuters, Bloomberg [3]: Source: Airbus
In light of its strong financial performance, Vietjet is actively expanding its business, with plans to increase its aircraft fleet from the current 219 to 621, including 402 A320-family jets and A330neos. [2] This expansion and diversification into aircraft maintenance services and ground services at major airports indicate a significant move in the technology and finance sectors of the aviation industry. [4]
