VietJet Air has announced an 18% increase in net profit for the first quarter of the 2025 financial year (Q1 FY25).
Vietnam's first privately-owned airline said consolidated profit was VND 641 billion (US$24.6 million) in the quarter ended 31 March 2025, compared with VND 539.14 billion in the previous corresponding period (pcp).
VietJet attributed this improvement to strong international expansion and operational excellence.
The company said pre-tax profit jumped 24% to VND 836 billion and earnings per share increased 20% to VND 1,183 on revenue which edged 0.9% higher to VND 17.952 trillion.
It transported more than 6.87 million passengers in Q1, 12% higher than the pcp.
VietJet claimed to have become the biggest carrier between Australia and Vietnam since launching onto this route in April 2023, competing against Qantas, JetStar Airways and Vietnam Airlines.
The airline operates services from Sydney, Melbourne, Brisbane and Perth to Ho Chi Minh City and from Sydney and Melbourne to Hanoi.
The low-cost carrier, which broke state-owned Vietnam Airlines’ monopoly on aviation in the south-east Asian country when it was established in 2007, operates 97 international routes, including six from Australia, and 40 in Vietnam.
At the time of writing VietJet shares (HM: VJC) were trading VND 1,100 (1.23%) lower at 88,500, giving it a market capitalisation of VND 46.55 trillion.
