HVN

Vietnam Airlines (HVN) will launch a direct Ho Chi Minh City-Phuket route on July 2, 2026, with four weekly round trips using Airbus A321 aircraft. The airline also signed strategic cooperation agreements with the Tourism Authority of Thailand, the Thai Travel Agents Association, Saigontourist Group, and Airports of Thailand to enhance connectivity and tourism flows. This expansion strengthens HVN's presence in the ASEAN market and supports its post-pandemic recovery strategy.

ITD was added to HOSE's margin-cut list after receiving a tax penalty for fiscal years 2022-2025, totaling VND 630.6 million. The list now includes 68 stocks, many under warning, control, or with negative profits, restricting leverage for investors.

HOSE has removed margin eligibility for 67 stocks effective May 2026, citing warning/control status, negative earnings, or listing under six months. The list includes AAN (listed May 22), ABS, HVN, and DLG, restricting leverage for retail investors and potentially reducing trading liquidity in these names.

HVN is reintroducing COVID-era austerity measures including rotating unpaid leave and a 50% salary cut for the Chairman as jet fuel prices surge up to 100%. The airline is also optimizing flight routes and engine maintenance to reduce costs, signaling severe margin pressure for Vietnam's flag carrier.

Vietjet (VJC) is building a large MRO complex at Long Thanh International Airport, expected to be operational by Q2 2026. The facility will serve both its own fleet and third-party airlines, directly challenging the decades-long monopoly of Vietnam Airlines (HVN) through its subsidiary VAECO. This move could reduce maintenance costs and turnaround times for Vietjet while opening a new revenue stream.

Vietnam Airlines (HVN) and Vietjet Air (VJC) both posted strong Q1 results, with HVN reporting consolidated revenue of over 37,500 billion VND and after-tax profit of 4,514 billion VND, while VJC achieved consolidated revenue of 21,021 billion VND (+17% YoY) and pre-tax profit of 1,142 billion VND (+36% YoY). However, both airlines face significant headwinds from rising jet fuel prices, which could pressure margins in coming quarters.

Vietnam Airlines (HVN) subsidiaries reported combined profit of VND 2,690 billion in 2025, up 54% YoY, driven by Skypec (VND 605B, +125%), NCTS, and TCS. The parent company achieved record consolidated pre-tax profit of VND 8,450 billion, with Q1 2026 pre-tax profit reaching VND 4,680 billion.

Vinhomes (VHM) reported Q1 2026 pretax profit of 30.7 trillion VND, up 700% YoY, driven by handovers at Vinhomes Ocean City and Royal Island. The banking sector dominates the top 20 profit list with 10 banks, while BSR and HPG also posted exceptional growth.

Vietnam Airlines (HVN) reported Q1 net profit of $171M, up 30% YoY, on revenue of VND37.5 trillion (+23%), fueled by a 28.6% jump in international revenue and Lunar New Year travel. The carrier warns of Q2 pressure from surging fuel costs, which could add VND300B annually per $1/barrel rise.