Nine-month 2026 results from Vietjet (HOSE: VJC) and Vietnam Airlines (HOSE: HVN) show aviation growing strongly alongside the wider economy.
Vietjet: international expansion, revenue up 41%
- Consolidated nine-month revenue reached VND74.385 trillion (about US$2.88 billion), up 41% and 86% of the full-year target.
- Net profit after tax was VND1.721 trillion, 82% of the annual target. In Q3 alone, revenue was VND22.849 trillion (up 35%) and net profit VND348 billion.
- The airline operated 111,700 flights, carrying more than 20.7 million passengers and over 58,000 tonnes of cargo.
- Its network now has 223 routes, 176 of them international. Vietjet opened bookings for Hanoi–Colombo, Hanoi–Maldives and Da Nang–Jakarta and confirmed a Ho Chi Minh City–Western Sydney service from January 2027.
- Consolidated total assets stood at VND152.8 trillion at 30 September 2026.
Vietnam Airlines: steady growth, VND4.2 trillion profit
- Consolidated nine-month revenue was nearly VND114.5 trillion (about US$4.4 billion), up 28% and about 82% of its VND138.9 trillion annual target.
- Consolidated net profit for nine months reached VND4.2 trillion; Q3 revenue was VND39.2 trillion and profit VND319 billion.
- The carrier flew more than 122,000 flights and about 300,000 flight hours, carrying over 20 million passengers (up 4.3%), despite high fuel prices and global volatility.
What it means for Vietnam's economy
Together the two airlines carried more than 40 million passengers in nine months. Aviation is the lifeline for international tourism, for experts and investors visiting project sites, and for high-value cargo such as electronic components. New routes to South Asia, Indonesia and Australia arrive just as registered FDI hit a record US$50.36 billion in nine months and exports rose 24.5%. Better connectivity helps Vietnam capture these flows of visitors and capital.
On the policy side, flagship aviation infrastructure such as Long Thanh International Airport and faster public investment disbursement are laying long-term foundations for the sector.
What to watch
Airline margins are sensitive to fuel prices, exchange rates and aircraft leasing and maintenance costs. Third-quarter profits at both airlines were well below earlier quarters because of seasonality and costs; the fourth quarter, with the year-end and Lunar New Year peak, will be the next test.
vietnamii.com view: both airlines are pursuing international expansion as travel demand rises sharply. Aviation is among the sectors benefiting most directly from Vietnam's growing appeal as an investment and tourism destination.