Vietnam Aviation 2026: 261 Aircraft, 110M Passengers; Vietjet Leads
This Aveluro analysis covers VJC (Vietjet Air) on HOSE in the Travel & Leisure sector. The classified event type is sector sentiment, with positive sentiment and a deterministic market-impact score of 4.0/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Vĩ mô đầu tư, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Vietnam’s Civil Aviation Authority reported 261 aircraft registered under Vietnamese nationality as of 15 October 2026, up 26 from 2025, alongside more than 110 million airport passengers in the first 10 months of the year, a rise of over 10% year-on-year. Vietjet (VJC, HOSE) holds the largest fleet at 107 aircraft, ahead of Vietnam Airlines (HVN) at 94, giving the two carriers 201 of the total. The data points to continued volume growth across domestic and international segments for both listed airlines.
Key Facts
- 261 aircraft registered under Vietnamese nationality as of 15 October 2026, an increase of 26 versus 2025.
- Vietjet operates 107 aircraft: 16 Airbus A320, 83 Airbus A321 and 8 Airbus A330.
- Vietnam Airlines operates 94 aircraft: 4 Airbus A320, 59 Airbus A321, 14 Airbus A350 and 17 Boeing 787.
- The two carriers account for 201 aircraft, the large majority of the national registry.
- Airport passenger throughput reached over 110 million in 10M 2026, up more than 10% year-on-year; international passengers near 43 million (+11%) and domestic near 68 million (+9%).
- October alone handled over 10 million passengers (+11% year-on-year), with international above 4 million and domestic above 6 million.
- Vietnamese carriers flew over 50 million passengers in 10M 2026 (+7%), and cargo through airports reached 1.6 million tonnes (+9%).
- The Civil Aviation Authority’s 2026 target is 95 million passengers carried and 1.6 million tonnes of cargo, up 13% and 15% respectively versus 2025.
What Happened
According to statistics from the Civil Aviation Authority of Vietnam, under the Ministry of Construction, the national fleet reached 261 Vietnam-registered aircraft by 15 October 2026, 26 more than in 2025. Vietjet topped the ranking with 107 aircraft, followed by national carrier Vietnam Airlines with 94, which together represent the bulk of the registry. The authority attributed the fleet expansion to passenger growth in both domestic and international markets and to cargo volumes that have maintained an upward trend.
Passenger throughput across Vietnamese airports exceeded 110 million in the first 10 months of 2026, up more than 10% year-on-year, with international passengers near 43 million (+11%) and domestic near 68 million (+9%). October alone served over 10 million passengers, up more than 11%. Vietnamese carriers themselves transported over 50 million passengers (+7%), including more than 16 million international (+2%) and nearly 34 million domestic (+9%), while airport cargo reached 1.6 million tonnes (+9%). The authority cited the new Law on Civil Aviation and supporting regulations, plus infrastructure projects including Long Thành International Airport and the Gia Bình and Phú Quốc airports, as growth drivers.
Market Context
VJC closed at VND 132,900 on 27 October 2026 on HOSE, while HVN, which trades on UPCOM, closed at VND 21,050. The traffic data lands in a sector that has been rebuilding international capacity after the pandemic and is now leaning on domestic demand, which grew faster than international for Vietnamese carriers in the period (9% versus 2%). Airport-level international traffic (+11%) outpacing Vietnamese-carrier international traffic (+2%) suggests foreign airlines are capturing a rising share of inbound flows, a competitive nuance for both carriers.
Strategic Significance
The fleet figures frame the competitive balance between Vietnam’s two listed airlines: Vietjet’s 107 aircraft, weighted toward narrowbody A321s with eight A330 widebodies, supports its low-cost, high-utilization model, while Vietnam Airlines’ 94 aircraft include 31 widebodies (14 A350, 17 Boeing 787) suited to long-haul routes. For long-term investors, the key variable is whether passenger growth converts into yield and margin rather than simply volume, particularly as the authority targets 13% passenger growth for 2026 against 10M growth of roughly 7% for Vietnamese carriers. Infrastructure coming online, notably Long Thành, is a multi-year capacity catalyst that lowers slot constraints at Hồ Chí Minh City’s airports.
What to Watch
- Full-year 2026 passenger and cargo totals versus the authority’s 95 million passenger and 1.6 million tonne targets.
- Q4 2026 and full-year earnings for VJC and HVN, to test whether volume growth is translating into margins.
- Monthly Civil Aviation Authority traffic releases for international share captured by foreign versus Vietnamese carriers.
- Progress and opening timelines for Long Thành International Airport and the Gia Bình and Phú Quốc airport projects.
- Implementation details of the new Law on Civil Aviation and related regulations, which the authority cites as a growth driver.