Vietjet (VJC) Reports 51% Profit Surge, Approves 30% Stock Dividend at 2025 AGM

Overview

Vietjet Aviation Joint Stock Company (VJC) held its 2025 Annual General Meeting on April 26 in Ho Chi Minh City, reporting consolidated revenue of VND 82,093 billion and after-tax profit of VND 2,123 billion, a 51% year-on-year increase and 20% above the annual plan. Shareholders approved a 30% stock dividend and a major fleet expansion, including orders for 100 A321neo aircraft and 20 A330neo wide-body jets, as the carrier targets new routes to Europe and the United States.

Key Facts

• Consolidated revenue reached VND 82,093 billion in 2025.
• After-tax profit was VND 2,123 billion, up 51% YoY and exceeding the plan by 20%.
• Shareholders approved a 30% stock dividend.
• Vietjet placed firm orders for 100 A321neo aircraft and 20 A330neo wide-body jets, plus 50 purchase rights.
• The airline operated 135 aircraft (101 in Vietnam), 254 routes, and served 28.2 million passengers in 2025.
• Direct and indirect tax contributions exceeded VND 10,500 billion.
• Vietjet plans to launch routes to Europe and the US, and invest in a maintenance center at Long Thanh Airport.

What Happened

At the AGM, Vietjet’s management presented 2025 results that significantly exceeded targets. The company attributed the strong performance to network expansion, ancillary revenue growth, and cost optimization. Chairman Dr. Nguyen Thi Phuong Thao emphasized the airline’s long-term vision and commitment to sustainable growth.

Shareholders approved a 30% stock dividend and elected two new board members with international experience. The meeting also endorsed a fleet expansion plan that includes orders for 100 A321neo and 20 A330neo aircraft, positioning Vietjet among the world’s largest airline order books. Independent board member Philipp Rosler, former Vice Chancellor of Germany, noted that expansion into Europe has been in preparation and that Vietjet’s low-cost model provides a competitive advantage on long-haul routes.

Market Context

VJC shares closed at VND 176 on April 15, 2026, up 5.82% on volume of 2.5 million shares, reflecting positive sentiment ahead of the AGM. The stock trades on HOSE and has benefited from the post-pandemic travel recovery and Vietjet’s aggressive international expansion. The 30% stock dividend is likely to increase liquidity and attract retail investors.

Strategic Significance

Vietjet’s fleet expansion and route development into Europe and the US represent a strategic shift from its core Asian network. The orders for A330neo wide-body aircraft signal intent to compete on long-haul routes, leveraging its low-cost model. The planned maintenance center at Long Thanh and ground handling services at major airports aim to reduce costs and improve margins. The 30% stock dividend rewards shareholders while preserving cash for expansion.

What to Watch

• Q1 2026 earnings release to confirm continued profit momentum.
• Progress on European and US route certifications and launch timelines.
• Delivery schedule for A321neo and A330neo aircraft and associated financing.
• Updates on the Long Thanh maintenance center investment and partnership agreements.
• Foreign ownership limit and potential inclusion in MSCI or FTSE indices.