Vietjet reports 24% YoY profit increase in Q1/2025

(Vietjet, Ho Chi Minh City, May 5, 2025) – With a focus on expanding its international flight network and enhancing performance, Vietjet Aviation Joint Stock Company (HOSE: VJC) recorded a consolidated profit growth of 24% YoY in Q1/2025, steadfastly maintaining its leading role in airline connectivity and promoting international integration.

Remarkable Profit Growth

According to the Q1 financial statements, Vietjet reported air revenue of VND 17.92 trillion (approx. US$689.3 million), with a pre-tax profit of VND 820 billion (approx. US$31.5 million), marking a 25% increase YoY.

Consolidated revenue totaled VND 17.952 trillion (approx. US$690.5 million) while pre-tax profit was of VND 836 billion (approx. US$32.1 million), up 24% YoY.

Ancillary revenue reached over VND 6.223 trillion (approx. US$239.1 million), significantly contributing to total revenue at more than 35%.

In the first three months of 2025, Vietjet transported more than 6.87 million passengers across nearly 38,700 flights, witnessing a growth of over 9% and 12% YoY. The airline operated a total of 137 routes, including 40 domestic and 97 international routes.

Vietjet received two new aircraft in Q1, bringing its fleet to 106 aircraft with the youngest average age in the region. The airline achieved an average seat utilization rate of 87% and a technical reliability rate of 99.72%.

During the first quarter of 2025, Vietjet inaugurated four new routes connecting Hanoi and Ho Chi Minh City with Beijing and Guangzhou (China), and two routes linking Ho Chi Minh City with Bengaluru and Hyderabad (India), further integrating with these populous and promising markets to bring about more opportunities for tourism, trade, and investment with Vietnam.

The airline also announced two direct routes: Phu Quoc – Singapore and Ho Chi Minh City – Auckland (New Zealand), which were expected to launch later this year.

As of March 31, 2025, Vietjet's total assets reached VND 98.766 trillion (approx. US$3.79 billion), with a debt-to-equity ratio of 2.12 and a liquidity ratio of 1.5, maintaining a safe level within the aviation industry.

Vietjet paid over VND 2.052 trillion (approx. US$78.9 million) in direct and indirect taxes and fee in Q1.

Collaborations with Major Global Partners

In early 2025, Vietjet marked a significant milestone by operating its first flight from Vietnam to the United States. During this trip, Vietjet and its key US partners held positive discussions on cooperation worth of approximately US$ 14 billion. Such came following previous strategic agreements with leading groups such as Boeing, GE, CFM, Pratt & Whitney, and Honeywell, bringing total cooperation value up to nearly USD 50 billion.

Vietjet has implemented fuel-saving technology solutions and artificial intelligence in aviation. It is a practical step in the airline's development strategy aimed at reducing emissions and promoting green and sustainable ESG practices. The CFM LEAP engine line reduces fuel consumption and CO2 emissions by 15% to 20% compared to previous-generation engines.

Vietjet also signed a US$ 300 million financing agreement for aircraft acquisition with Carlyle Aviation Partners.

The airline successfully operated two flights transporting Vietnamese rescue teams and over 60 tons of relief goods to Myanmar following a devastating earthquake.

Vietjet also partnered with a bank to sponsor 500 houses in a program to eliminate temporary shelters for low-income families.

With strong performance results, Vietjet's Sky Joy loyalty program won the "Best Use of Digital Technology" award at the 2025 Asia Pacific Loyalty Awards in Melbourne, Australia.

In Q1, the airline received three international HR awards, including "Dream Company to Work For," "Best Corporate Social Responsibility Practices," and "Global Best Employer Brand."

Vietjet has been recognized by AirlineRatings, a leading international aviation safety and service rating organization, as the "World’s Best Ultra Low Cost Carrier 2025" and ranked among the safest airlines globally in 2025.

The Q1 business performance has provided a solid step for Vietjet to achieve and even exceed its 2025 targets in the times of booming global air transport.