Vietjet (VJC) soars in Q2 with major aircraft orders and ground service expansion

Vietjet (VJC) soars in Q2 with major aircraft orders and ground service expansion

Vietjet posted strong performance in H1, achieving 78 per cent and 75 per cent of its full-year separate and consolidated pre-tax profit targets, respectively.

Vietjet aircraft land at Tân Sơn Nhất International Airport in HCM City. —  Photos  courtesy of Vietjet

Vietjet Aviation Joint Stock Company (HOSE: VJC) has reported robust business results for Q2, exceeding expectations and marking significant milestones.

Highlights include major aircraft orders, expansion of ground self-service operations and a successful bid for a key development project at Long Thành International Airport, which is poised to be Việt Nam's new major aviation hub.

Revenue outperforms, profit increases significantly

According to the Q2 financial report, Vietjet recorded aviation revenue of over VNĐ17.68 trillion (US$673.9 million) and a pre-tax profit of VNĐ775 billion ($29.57 million), reflecting a 52.3 per cent year-on-year increase.

Total consolidated revenue surpassed VNĐ17.88 trillion, with pre-tax profit climbing to VNĐ815 billion ($31.09 million), representing a remarkable year-on-year growth of 151.5 per cent. Ancillary revenue contributed more than VNĐ6.89 trillion, significantly boosting overall revenue.

For the first half of 2025, Vietjet reported aviation revenue of VNĐ35.6 trillion and a pre-tax profit of nearly VNĐ1.6 trillion ($61.04 million), up 37 per cent year-on-year. Consolidated revenue hit VNĐ35.8 trillion, with pre-tax profit exceeding VNĐ1.6 trillion, marking a yearly rise of 65 per cent. 

During the period, Vietjet, including Vietjet Thailand, transported 17.7 million passengers on 99,202 flights. The total cargo volume transported reached nearly 65,200 tonnes.

As of June 30, 2025, Vietjet's total assets exceeded VNĐ112.33 trillion. The airline maintained a debt-to-equity ratio of 1.76 and a liquidity ratio of 1.44, signalling strong financial health, cash reserves, bank deposits, cash equivalents and short-term investments surpassed VNĐ9 trillion, supported by working capital credit lines that ensured adequate liquidity.

The airline maintained a technical reliability rate of 99.53 per cent and was once again recognised by AirlineRatings as the 'World’s Best Ultra Low-Cost Carrier', while also being ranked among the safest airlines globally.

Strategic expansion

According to Vietjet, the second quarter marked a new milestone in its strategy to expand the international network. The airline launched direct flights from Nha Trang to three major cities in Russia - Vladivostok, Khabarovsk and Blagoveshchensk.

In China, the airline introduced new services linking Hà Nội and HCM City with Beijing, Guangzhou and Shanghai, addressing the growing demand for travel and trade. Vietjet also expanded its footprint in India, Japan, Singapore and increased domestic flight frequencies in selected airports.

Investment in modern fleet

Vietjet aircraft land at Tân Sơn Nhất International Airport in HCM City. —  Photos  courtesy of Vietjet

In addition to its strong performance, Vietjet advanced its fleet development with major aircraft investments. During French President Emmanuel Macron’s visit to Việt Nam, the airline ordered 20 additional A330neo widebodies from Airbus, raising its total to 40, the largest A330neo order globally.

At the 2025 Paris Air Show, Vietjet also signed the show’s largest deal with an order for 100 A321neo aircraft and 50 purchase options, ranking it among the world’s top 10 airlines by order volume.

Ground self-service expansion

Vietjet has extended its in-house ground handling operation to major Vietnamese airports, enhancing service quality, operational efficiency, and passenger experience. The airline also secured Government approval for its winning bid to invest in and build Aircraft Maintenance Facilities No 3 and No 4 at Long Thành International Airport - key components of a national maintenance hub for the airport’s first phase.

Vietjet posted strong performance in H1, achieving 78 per cent and 75 per cent of its full-year separate and consolidated pre-tax profit targets, respectively. These strategic milestones strengthen Vietjet’s internal capabilities and position the airline for continued growth and sustainable development in the second half of 2025. 

Bizhub