Vietjet Airlines Expands Operations with Capital Increase and New Business Ventures
Vietjet Aviation Joint Stock Company (HoSE: VJC) has recently made significant changes to its business registration, notably increasing its capital and diversifying its business activities.
The airline’s chartered capital has been raised to VND 5,916 billion, following the successful private placement of 50 million shares to domestic investors, as planned and announced earlier this year in February.
Since June, CTCP Aviation has become a major shareholder of Vietjet, having acquired 25 million VJC shares, bringing its total holdings to 35 million shares, equivalent to a 5.92% stake in VJC. The transaction was finalized on June 12th.
Along with the capital increase, Vietjet has expanded its business portfolio by adding several new lines of business. Prior to the changes, Vietjet was engaged in 59 industries, notably including 5110 – Air Passenger Transport and 5120 – Air Cargo Transport.
Now, Vietjet operates across 64 industries, with a particular focus on aircraft maintenance and repair. The additional business activities include:
3312 – Machinery and Equipment Repair: Assembly, maintenance, overhaul, and repair of aircraft engines and parts, as well as specialized aviation equipment.
3313 – Repair of Electronic and Optical Equipment: Maintenance and repair of aircraft engine equipment.
3315 – Transport Equipment Repair (excluding automobiles, motorcycles, and other motor vehicles): Maintenance, overhaul, and repair of aircraft and aircraft engines.
5223 – Aircraft-related Support Services: Providing technical aircraft services and commercial ground handling services (with certain exclusions).
7410 – Specialized Design Activities: Participating in the design, manufacturing, repair, and improvement of aircraft equipment and specialized aviation equipment.
Vietjet has maintained its strong performance with 79,000 flights, carrying 14.4 million passengers, and contributing over VND 4,528 billion in taxes and fees to the state budget. The company boasts healthy financial indicators, strong liquidity, and consolidated assets exceeding VND 112,000 billion.
In terms of financial performance, Vietjet’s air transport revenue reached VND 35,601 billion, with pre-tax profits of nearly VND 1,600 billion, a 37% increase compared to the previous year. Consolidated revenue stood at VND 35,837 billion, with pre-tax profits of over VND 1,651 billion, marking a significant 65% surge.
Additionally, Vietjet has commenced the construction of its Aircraft Maintenance Center in Long Thanh, comprising Hangar 3 and 4, capable of simultaneously accommodating 10 aircraft and adhering to international standards. This project is among the 80 key constructions celebrating the 80th anniversary of Vietnam’s National Day.
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