Former Hanoi Metro Chairman Joins Vietjet Board; New CEO Appointed

Overview

Vietjet Aviation Joint Stock Company (VJC) has elected former Hanoi Metro chairman Khuat Viet Hung to its board of directors and appointed Nguyen Thanh Son as CEO, effective April 29. The leadership changes come as the low-cost carrier targets 23.5% revenue growth and 14.5% profit growth for 2026, alongside fleet expansion to 115 aircraft.

Key Facts

• Khuat Viet Hung, born 1974, was elected to Vietjet’s board for the 2022-2027 term at the annual general meeting in late April.
• Hung stepped down as chairman of Hanoi Metro in early April at his personal request.
• Nguyen Thanh Son, previously chief operating officer, was appointed CEO effective April 29, replacing Dinh Viet Phuong, who became vice chairman of the board.
• Vietjet targets 2026 consolidated revenue of VND 86,774 billion, up 23.5% year-on-year.
• Consolidated pretax profit is targeted at VND 2,421 billion, up 14.5%.
• The airline aims to increase its fleet to 115 aircraft in 2026, from 135 total aircraft (101 in Vietnam) operated in 2025.
• Vietjet has outstanding orders for 100 A321neo aircraft plus 50 purchase rights, and 20 A330neo wide-body aircraft.

What Happened

At its annual general meeting in late April, Vietjet shareholders elected Khuat Viet Hung to the board of directors for the 2022-2027 term. Hung, who resigned as chairman of Hanoi Metro in early April, brings extensive experience in transport management and traffic safety, having served as director of the Institute of Transport Planning and Management, director of the International Cooperation Center for Transport Training and Research, director of the Transport Department, and vice chairman of the National Traffic Safety Committee.

Separately, the board appointed Nguyen Thanh Son as CEO, effective April 29, replacing Dinh Viet Phuong. Phuong was appointed vice chairman of the board. The company also announced its 2026 business plan, targeting consolidated revenue of VND 86,774 billion (+23.5%) and pretax profit of VND 2,421 billion (+14.5%).

Market Context

Vietjet (VJC) closed at VND 176,000 on April 15, 2026, up 5.82% with volume of 2.5 million shares, indicating positive market sentiment ahead of the AGM. The airline operates in the competitive Vietnamese aviation sector, which has seen strong post-pandemic recovery. Vietjet’s expansion plans, including fleet growth and international route development to Europe and the US, position it for long-term growth but also require significant capital expenditure.

Strategic Significance

The appointment of Khuat Viet Hung, a former state-owned enterprise leader with deep transport policy expertise, may signal Vietjet’s intent to strengthen regulatory and government relations as it pursues international expansion. The CEO transition to Nguyen Thanh Son, an internal executive, suggests continuity in operational strategy. The aggressive 2026 targets reflect confidence in demand recovery and fleet utilization, but execution risk remains given global fuel price volatility and competitive pressures.

What to Watch

• Q1 2026 earnings release for revenue and profit trajectory against full-year targets.
• Fleet delivery updates from Airbus, particularly the A330neo wide-body order for long-haul routes.
• International route announcements, especially to Europe and the US.
• Fuel cost trends and their impact on operating margins.
• Any further board or management changes following the AGM.