In aviation, it’s one thing to talk about growth; it’s another to deliver it. Vietjet, the Vietnamese low-cost airline once dismissed as a colourful upstart, is now posting numbers that make established carriers glance nervously at their balance sheets.
The airline has clocked 97 per cent of its annual target with three months still to run. Profits are climbing, new routes are opening, and shareholders are pocketing a 20 per cent stock dividend. Not bad for a carrier that, a decade ago, was better known for ambition than assets.
Profit at cruising altitude
Vietjet’s latest report to the Ho Chi Minh Stock Exchange tells the story.
Vietjet’s service soars sky-high – smiles, surprises, and charm at 30,000 feet.
Third-quarter air revenue totalled VND16.7 trillion (roughly US$636 million), while pre-tax profit was VND393 billion (about US$14.9 million).
Across the first nine months of the year, air transport revenue came to VND52.3 trillion (around US$1.98 billion), while pre-tax profit lifted to VND1.987 trillion (about US$75.5 million), up 28 per cent on last year.
For the group as a whole, revenue stood at VND52.8 trillion (around US$2 billion), with consolidated profit up 17 per cent year-on-year to VND2.05 trillion (around US$78 million).
The details matter less than the direction: Vietjet is not just recovering from the pandemic years, it’s overtaking them.
Ancillary income, the quiet hero
In the fine print, one figure stands out. The airline’s ancillary revenue, baggage, meals, seat selections, and the usual small extras that keep low-cost models aloft rose 19 per cent, hitting VND6.9 trillion (about US$262 million). That’s 41 per cent of total air income, and proof that passengers still value a few comforts, even when flying no-frills.
Australia on the map
If there was ever doubt that Australia mattered to Vietjet, it’s gone.
By the end of 2025, travellers from Sydney and Melbourne will have daily flights to Ho Chi Minh City, joining existing connections from Brisbane and Perth.
For Australians, that’s more options and often sharper fares. For Vietnam, it’s a steady flow of tourists and business travellers bringing cash and confidence.
The broader numbers back it up. Vietjet now operates 219 routes, 169 international and 50 domestic, with a fleet of 98 aircraft. It’s carried 21.5 million passengers so far this year. The load factor sits at 86 per cent, and the technical reliability rating of 99.72 per cent is the kind of figure engineers like to frame.
Not bad for an airline many once assumed would stay local.
Rewarding those who believed
That 20 per cent dividend is no small gesture. Vietjet will issue more than 118 million shares, worth about VND1.18 trillion (roughly US$45 million).
It’s a sign of financial health and a statement of confidence.
“Our results show Vietjet’s resilience and long-term vision,” a spokesperson said, keeping things brief in that corporate way. Translation: business is good, and the future looks better.
Thinking long-term
The airline isn’t just counting profits. It’s investing heavily in training, maintenance, and sustainability.
Work has begun on a central Aircraft Maintenance Centre at the new Long Thanh International Airport, designed to give Vietnam’s aviation sector some home-grown muscle. Vietjet has also started to trial flights using Sustainable Aviation Fuel (SAF), testing the green fuel that’s becoming the industry’s next big challenge.
At the Vietjet Aviation Academy, new pilots and engineers are being trained to meet growing demand. It’s a quietly strategic move: talent shortages are the one thing money can’t fix quickly.
Recognition has followed. This year, the airline picked up a Sustainability Award from AirlineRatings, landed on Forbes Vietnam’s Top 50 Public Companies, and earned a spot among Asia’s Best Workplaces — honours it likes to mention but not overstate.
Still climbing
For 2026, the forecast is steady growth. Fuel prices are calm, tourism between Australia and Vietnam is climbing, and Vietjet’s lean, cheerful model is proving hard to fault.
There’s something almost old-fashioned about it: hard work, smart routes, happy shareholders. In an age of overblown promises and underwhelming delivery, Vietjet is quietly doing what airlines are meant to do: take people places, make money, and keep its nose pointed skyward.
By Christine Nguyen – (c) 2025
Read Time: 4 minutes
