Vietjet’s expanding footprint in Australia over the past year has been reflected across the business, with the airline reporting a 24 per cent year-on-year increase in consolidated profit for Q1/2025, driven by strong international expansion and operational excellence, reinforcing its leadership in regional connectivity.
Since launching in Australia in April 2023, Vietjet expanded to become the biggest carrier between Australia and Vietnam. The airline operates services from Sydney, Melbourne, Brisbane, Perth to Ho Chi Minh City and from Sydney, Melbourne to Hanoi. In Q1 2025, Vietjet added its international services with Japan and China, further expanding Australians’ connectivity with Asia through Vietnam.
Remarkable profit growth
According to the Q1/2025 financial statements, Vietjet Aviation Joint Stock Company (HOSE: VJC) reported air revenue of VND17.92 trillion (approx. US$690 million), with a pre-tax profit of VND820 billion (approx. US$31.5 million), marking a 2 per cent increase YoY.
Consolidated revenue totaled VND17.952 trillion (approx. US$690 million) while pre-tax profit was VND836 billion (approx. US$32.1 million), up 24 per cent YoY.
Ancillary revenue reached over VND6.223 trillion (approx. US$239.1 million) in Q1/2025, accounting for more than 3 per cent of Vietjet’s total revenue.
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 nine per cent and 12 per cent YoY, respectively. The airline operated a total of 137 routes: 97 international routes including six from Australia, and 40 domestic routes.
In Q1/2025, Vietjet added two new aircraft, expanding its fleet to 106—among the youngest in the region. The airline reported strong operational metrics with a seat load factor of 87 per cent and a technical reliability rate of 99.72 per cent. Vietjet also launched four new international routes linking Vietnam’s Hanoi and Ho Chi Minh City with major cities in China (Beijing, Guangzhou) and India (Bengaluru, Hyderabad), enhancing connectivity and growth opportunities in key Australian and Asian markets.
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 VND98.766 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.
Collaborations with major global partners
Vietjet began 2025 with its first-ever flight to the U.S., leading to strategic partnership discussions with key US partners worth US$14 billion. Combined with existing deals with its longstanding partners such as Boeing, GE, Pratt & Whitney, and others, Vietjet’s total cooperation value now approaches US$50 billion. The airline also signed a US$300 million aircraft financing agreement with Carlyle Aviation Partners.
Recognised for excellence, Vietjet’s SkyJoy loyalty program won “Best Use of Digital Technology” at the 2025 Asia Pacific Loyalty Awards, while the airline also received three global HR honors. AirlineRatings named Vietjet as “World’s Best Ultra Low Cost Carrier in 2025” and ranked it among the world’s safest airlines.
These achievements position Vietjet to exceed its ambitious 2025 targets amid strong global aviation growth.
