Vietjet Exceeds Expectations, Secures Long Thanh Project Bid Victory
Vietjet's Q2 2025 Financial Performance Shows 10% Revenue Growth
Vietjet, Vietnam's leading low-cost carrier, reported a consolidated revenue of VND 17,885 billion ($682.29 million) for Q2 2025, marking a 10% increase compared to the same period last year. The air transport revenue alone was VND 17,681 billion ($674.94 million), also up 10% year-on-year.
The airline's strong financial performance is underpinned by a robust liquidity position. Cash reserves, bank deposits, cash equivalents, and short-term investments exceeded VND9 trillion (approximately $343.48 million), ensuring the company's liquidity.
In the first half of 2025, Vietjet reported aviation revenue of VND35.6 trillion (approximately $1.35 billion) and a pre-tax profit of nearly VND1.6 trillion (approximately $61.04 million). Vietjet paid over VND4.53 trillion (approximately $172.74 million) in direct and indirect taxes and fees in the first half of 2025. As of June 30, Vietjet's total assets amounted to over VND112.33 trillion (approximately $4.28 billion), with a debt-to-equity ratio of 1.76 and a liquidity ratio of 1.44.
Ancillary revenue contributed over VND6.89 trillion (approximately $262.98 million) in Q2, significantly boosting overall revenue.
Vietjet's Q2 2025 financial performance also highlights the airline's operational efficiency. The airline boasted a technical reliability rate of 99.53 per cent, and the total freight volume transported during the quarter approached 29,000 tons. By the end of Q2, Vietjet operated a total of 154 routes (109 international and 45 domestic), transporting 7.5 million passengers.
Vietjet continued to assert its position as a new-generation airline with positive business results in H1, achieving separate and consolidated pre-tax profits of 78% and 75% of its annual plan, respectively.
In terms of expansion, Vietjet launched direct flights from Nha Trang to three major cities in Russia and inaugurated services connecting Hanoi and Ho Chi Minh City with Beijing, Guangzhou, and Shanghai in Q2. The airline also took charge of ground services at the country's largest airports.
At the 2025 Paris Air Show, Vietjet placed a new order for 100 aircraft and 50 options for new Airbus A321neo aircraft, making it the airline with the largest A330neo orders. Vietjet also announced the appointment of Nguyen Thanh Son as the company's managing director.
The Ministry of Construction has approved Vietjet's winning bid for the investment and construction of aircraft maintenance services at Long Thanh Airport. These projects are part of a comprehensive aircraft maintenance complex serving domestic airlines. Vietjet also ordered an additional 20 wide-body A330neo aircraft from Airbus, bringing its total A330neo orders to 40.
However, specific details on Vietjet's Q2 2025 pre-tax profit and growth compared to previous years were not explicitly stated in the provided sources. The main financial figure available is the revenue increase of 10%. Additional context indicates that Vietjet faced changes in ground service arrangements, as Saigon Ground Services, which previously provided full ground services to Vietjet at Tan Son Nhat Airport, no longer does so from April 20, 2025, affecting related revenues for Saigon Ground Services but not directly reported to impact Vietjet's revenue or profit in the given data.
Due to the impressive 10% revenue growth in Q2 2025, Vietjet's lifestyle and travel offerings have become more attractive, potentially appealing to a wider audience seeking affordable air travel. The airline's expansion into new destinations such as major cities in Russia and China, and the addition of new aircraft to its fleet, indicates a focus on fostering a dynamic travel experience for its passengers.
