Vietjet (VJC) Elects Khuat Viet Hung to Board, Sets 2026 Revenue Target of VND 86.8 Trillion

Overview

Vietjet Aviation Joint Stock Company (VJC) has elected Mr. Khuat Viet Hung to its Board of Directors for the 2022-2027 term and appointed Mr. Nguyen Thanh Son as CEO, effective April 29. The airline also announced 2026 targets of consolidated revenue of VND 86,774 billion (+23.5%) and pre-tax profit of VND 2,421 billion (+14.5%), alongside plans to expand its fleet to 115 aircraft and enter new international markets including Europe and the US.

Key Facts

• Mr. Khuat Viet Hung was elected to the Board of Directors for the 2022-2027 term at the annual general meeting in late April.
• Mr. Nguyen Thanh Son was appointed as CEO, replacing Mr. 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.
• Pre-tax profit target for 2026 is VND 2,421 billion, a 14.5% increase.
• The airline aims to increase its fleet to 115 aircraft in 2026.
• Vietjet operated 135 aircraft in 2025 (101 in Vietnam), serving 28.2 million passengers on 254 routes.
• The company has outstanding orders for 100 A321neo aircraft (plus 50 options) and 20 A330neo wide-body aircraft from Airbus.

What Happened

At its annual general meeting in late April, Vietjet elected Mr. Khuat Viet Hung to its Board of Directors for the 2022-2027 term. Mr. Hung previously served as Chairman of Hanoi Metro and held senior roles in transport management and traffic safety, including Director of the Institute of Transport Planning and Management and Vice Chairman of the National Traffic Safety Committee. He resigned from Hanoi Metro in early April due to personal wishes.

The meeting also appointed Mr. Nguyen Thanh Son, the airline’s Chief Operating Officer, as CEO, effective April 29. Mr. Son replaces Mr. Dinh Viet Phuong, who was appointed Vice Chairman of the Board. The leadership changes were disclosed in a company filing.

For 2026, Vietjet targets consolidated revenue of VND 86,774 billion (+23.5%) and pre-tax profit of VND 2,421 billion (+14.5%). The airline plans to expand its fleet to 115 aircraft and extend its international network to Europe and the US. In 2025, Vietjet operated 135 aircraft, served 28.2 million passengers, and flew 153,000 flights on 254 routes.

Market Context

VJC shares closed at VND 176 on April 15, 2026, up 5.82% with a volume of 2.5 million shares on HOSE. The stock has been supported by the airline’s post-pandemic recovery and expansion plans. Vietjet operates in the competitive Vietnamese aviation sector, where it competes with Vietnam Airlines and Bamboo Airways. The company’s low-cost model and international expansion strategy have driven revenue growth, though fuel costs and currency fluctuations remain key risks.

Strategic Significance

The appointment of Mr. Khuat Viet Hung, a seasoned transport policy expert, signals Vietjet’s focus on regulatory and safety compliance as it expands internationally. The new CEO, Mr. Nguyen Thanh Son, brings operational experience from his role as COO. The 2026 targets reflect management’s confidence in sustained demand recovery and fleet expansion. The large Airbus order (100 A321neo and 20 A330neo) positions Vietjet for long-haul routes, potentially opening new revenue streams from Europe and the US. However, execution risks include delivery delays, financing costs, and competition.

What to Watch

• Q1 2026 earnings release for initial progress against annual targets.
• Fleet delivery updates from Airbus, especially for A330neo wide-body aircraft.
• Announcements of new international routes, particularly to Europe and the US.
• Fuel price trends and their impact on cost structure.
• Any regulatory changes affecting international aviation rights or safety standards.