Vietnam Airlines soars with impressive financial results. In Q2 2025, the airline recorded a total revenue of approximately VND 28,000 billion, a 13% increase year-on-year, and a net profit of over VND 2,800 billion – triple that of the same period last year. This is the second consecutive quarter that Vietnam Airlines has maintained a net profit of over VND 2,500 billion.
Similarly, Vietjet Air, owned by billionaire Nguyen Thi Phuong Thao, reported positive results. The airline achieved consolidated revenue of nearly VND 17,900 billion, a 10% year-on-year increase. Net profit exceeded VND 650 billion, a 13% increase from the previous year.
The main driver behind these impressive financial results was the strong recovery in the aviation transportation market. According to the Civil Aviation Authority, passenger volume through airports in the first half of the year reached 71 million, including 26.4 million international passengers (up 11.2%) and 44.6 million domestic passengers (up 6.9%).
This positive trend continued into July 2025. According to the Tourism Information Center, international arrivals to Vietnam reached 1.56 million, a 6.8% increase compared to the same period last year – a notable achievement during the low season for tourism. In the first seven months, Vietnam welcomed over 12.2 million international arrivals, a 22.5% increase, almost reaching the full-year figure for 2023.
In addition to the rising demand, airlines also benefited from a significant reduction in input costs due to cooling fuel prices. The average price of Jet A1 fuel in the first six months of 2025 was VND 86-88 per liter, down from last year’s average of nearly VND 99 per liter.
Q2 2025 Financial Results of Aviation Enterprises
Unit: Billion VND
 Source: VietstockFinance
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Auxiliary industries thrive
The positive wave also reached auxiliary businesses. The airport mogul, ACV, recorded improved operating results, with revenue of VND 6,340 billion in Q2 2025, a 15% increase year-on-year, and gross profit of over VND 3,900 billion, a 13% increase.
However, ACV’s net profit decreased by 19% to VND 2,601 billion in Q2 2025, mainly due to the absence of foreign exchange gains from the Japanese Yen.
In the duty-free business, SASCO reported a 62% surge in profit in Q2 2025, amounting to VND 136 billion. In the first six months, the company achieved revenue of over VND 1,530 billion (up 15%) and a pre-tax profit of nearly VND 280 billion – double that of the same period last year and the highest since 2020.
Similarly, Taseco (AST) benefited from this trend, with Q2 2025 revenue reaching nearly VND 400 billion, a 27% increase year-on-year. AST’s net profit exceeded VND 60 billion, up 93% from the previous year.
Cargo service providers also made remarkable progress. NCT increased its revenue by 29% and net profit by 32%, amounting to over VND 520 billion and nearly VND 150 billion, respectively. Notably, in Q2 2025, NCT’s profit surpassed VND 85 billion, the highest in a decade.
In the in-flight catering sector, Noi Bai Aviation Catering Services Joint Stock Company (NCS) witnessed a net profit increase of over 30%, reaching nearly VND 16 billion.
The race in the aviation market is heating up again
Looking ahead to the second half of the year, Vietnam’s domestic aviation industry is expected to maintain its recovery and stable growth trajectory. Amid this positive outlook, airlines are strengthening their resources and expanding their operations, intensifying competition in the market.
Vietnam Airlines and Vietjet, the two “giants” of the market, are expanding their international route networks, continuously launching new routes to Europe and Asia to capitalize on the tourism rebound. Vietravel Airlines has also received its first owned aircraft in addition to its leased fleet, aiming to strengthen its scale and enhance operational capabilities.
Bamboo Airways maintains stable operations but focuses on high-demand domestic routes, optimizing profits from lucrative flights.
The most notable development is the entry of newcomer Sun Phu Quoc Airways – a hybrid airline combining transportation and tourism experiences. The Sun Group-owned carrier has chosen Phu Quoc as its focal point, with a strategy to directly connect the island to major domestic and international destinations in China, Japan, and South Korea.
Sun Phu Quoc Airways is racing to realize its ambitious goals: starting ticket sales in October and commencing commercial flights in December 2025. The newcomer demonstrates its determination by planning to receive and operate eight Airbus A321 aircraft by the end of 2025.
– 11:00 28/08/2025
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