Vietjet releases Q1-2025 financials

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Vietjet Aviation Joint Stock Company reported a 24 percent year-on-year (YoY) increase in consolidated profit for Q1 2025, driven by strong international expansion and operational excellence, reinforcing the airline’s leadership in regional connectivity. 

The airline will soon operate direct flights between Singapore and Phu Quoc by the end of May, adding to the services from Singapore to Ho Chi Minh City, Hanoi, and Da Nang. 

This new route adds to, increasing the total number of weekly single-leg flights between Vietnam and Singapore to 78. 

According to its Q1 2025 financial statements, Vietjet reported air revenue of VND17.92 trillion, with a pre-tax profit of VND820 billion, marking a 25 percent increase YoY. 

Consolidated revenue totalled VND17.952 trillion while pre-tax profit was of VND836 billion, up 24 percent YoY.

Ancillary revenue reached over VND6.223 trillion in Q1 2025, accounting for more than 35% of Vietjet’s total revenue.

As of 31st March, Vietjet’s total assets reached VND98.766 trillion, with a debt-to-equity ratio of 2.12 and a liquidity ratio of 1.5, maintaining a safe level within the aviation industry. 

A busy first quarter

In the first three months of 2025, Vietjet operated nearly 38,700 flights and transported over 6.87 million passengers, representing YoY growth of more than 12 percent and nine percent, respectively. 

The airline operated a total of 137 routes, including 40 domestic and 97 international routes.

In Q1-2025, Vietjet added two new aircraft, expanding its fleet to 106 of the most modern aircraft in the region. 

The airline reported strong operational metrics with a seat load factor of 87 percent and a technical reliability rate of 99.72 percent.  

Vietjet also introduced four new international routes connecting Vietnam’s Hanoi and Ho Chi Minh City with major cities in China (Beijing, Guangzhou) and India (Bengaluru, Hyderabad), further strengthening connectivity and expanding growth opportunities in key Asian markets. 

Additionally, the airline announced two upcoming direct routes: Phu Quoc—Singapore, set to launch on 30 May 2025, and Ho Chi Minh City—Auckland (New Zealand), expected to begin in September 2025.

Highlights from the quarter

Vietjet began 2025 with its inaugural flight to the United States, leading to strategic partnership discussions with key 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.

Beyond business performance, Vietjet delivered over 60 tonnes of humanitarian aid to Myanmar and partnered with a leading bank to construct 500 homes for low-income families in Vietnam. 

On the innovation and service front, Vietjet’s SkyJoy loyalty program won “Best Use of Digital Technology” at the 2025 Asia Pacific Loyalty Awards. 

The airline also received three global HR excellence awards and was named “World’s Best Ultra Low-Cost Carrier 2025” and one of the world’s safest airlines by AirlineRatings.

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