Aviation Industry: 75%
Freight Transport: 15%
Travel and Tourism Services: 10%

TOP 3 Markets:
Vietnam: 50%
Japan: 20%
South Korea: 15%

Vietnam Airlines JSC generates the majority of its revenue from the aviation industry, with passenger transport being the main source. Freight transport and additional services in the travel and tourism sector also contribute to the income.

The domestic market Vietnam is the largest revenue generator, followed by Japan and South Korea, which are significant markets for international air travel. These markets benefit from strong economic and tourist connections to Vietnam.

Production Sites: Vietnam

Vietnam Airlines JSC is an airline and does not produce physical products in the traditional sense. The company provides services in the field of air transportation. The main base of the airline is located in Hanoi, Vietnam, with another important hub in Ho Chi Minh City.

The maintenance and servicing of the aircraft is carried out in Vietnam, with Vietnam Airlines having its own facilities and partnerships with international maintenance companies.

Fleet Modernization: Investments in new aircraft (2025-2026)
Market Expansion: Expansion of international flight routes (2026)
Digitalization: Expansion of digital services and customer platforms (2025-2026)

Vietnam Airlines JSC is pursuing a multi-track growth strategy to strengthen its market position both nationally and internationally. A key component of this strategy is fleet modernization. The company is investing in new, fuel-efficient aircraft to reduce operating costs and environmental impact.

In addition, Vietnam Airlines plans to expand its international flight routes to tap into new markets and increase global presence. This is supported by strategic partnerships and codeshare agreements with other international airlines.

Another focus is on digitalization. Vietnam Airlines is investing in enhancing digital services and platforms to optimize the customer experience and increase operational efficiency. These measures are intended to make the company more competitive and secure growth in the coming years.

Main Imported Raw Materials/Supplies:

• Aircraft fuel
• Aircraft spare parts
• Onboard catering

Countries of Origin:

• Aircraft fuel: Mainly from Singapore and South Korea
• Aircraft spare parts: Primarily from the USA and Europe
• Onboard catering: Various regional and international suppliers, depending on specific requirements and flight routes

Vietnam Airlines JSC primarily imports aircraft fuel, which is a significant cost factor in operations. Singapore and South Korea are important suppliers due to their established refinery capacities and geographical proximity.

Aircraft spare parts are mainly sourced from the USA and Europe, where the manufacturers of most aircraft operated by Vietnam Airlines are located. These regions also provide the necessary quality and certification for aviation spare parts.

Onboard catering is sourced from various regional and international providers depending on the flight route and specific requirements to offer passengers a diverse selection.

Market share in Vietnam: 34% (2025)
Fleet size: 105 aircraft (2025)
Passenger growth: 9% (2025)

Vietnam Airlines JSC has a significant competitive advantage due to its strong market position as one of the leading airlines in Vietnam. With a market share of 34% in 2025, the company dominates the domestic market, supported by an extensive fleet of 105 aircraft.

The 9% passenger growth in 2025 indicates that Vietnam Airlines is benefiting from the increasing demand in the aviation sector. This is further facilitated by the strategic expansion of flight routes and fleet modernization.

Additionally, membership in the SkyTeam alliance strengthens the competitive advantage by providing access to a global network and additional resources. This positions Vietnam Airlines well to remain competitive in both the domestic and international markets.

Institutional Investor Share: Estimated around 30-40% (2026)
Insider Buys/Sells: No specific data available (2026)

The institutional investor share in Vietnam Airlines JSC is estimated to be between 30-40%. This estimate is based on typical holdings of state-owned and private investors in large Asian airlines.

Current data on insider buys or sells are not specifically available. Typically, such transactions are disclosed in the companies' annual or quarterly reports. It is advisable to consult the latest financial reports or regulatory filings to obtain detailed information.

Market share of Vietnam Airlines JSC: 35% (2026, estimated)

Main competitors and their market shares:

1. VietJet Air: 30% (2026, estimated)
2. Bamboo Airways: 15% (2026, estimated)
3. Pacific Airlines: 10% (2026, estimated)
4. Vietravel Airlines: 5% (2026, estimated)
5. Other smaller airlines: 5% (2026, estimated)

Vietnam Airlines JSC holds the largest market share in the Vietnamese aviation sector at 35%. The main competitor, VietJet Air, follows with a market share of 30%. These two companies dominate the market, while Bamboo Airways and Pacific Airlines also hold significant shares.

Vietnam Airlines' moat mainly lies in its established brand, extensive fleet, and dense route network covering both domestic and international routes. Additionally, the company benefits from government support, which has often been a stabilizing factor in the past.

In comparison, VietJet Air has a strong moat in the form of cost-efficient operating models and aggressive pricing strategies that allow it to quickly gain market share. Bamboo Airways differentiates itself through excellent customer service and premium offerings.

Overall, Vietnam Airlines has a significant moat due to its market position and government support, but competitors with innovative business models and aggressive expansion strategies pose strong competition.

Revenue Growth: 8.5% (2025) Passenger Growth: 10% (2025) Fleet Expansion: +15 aircraft (2025)

Vietnam Airlines JSC recorded a revenue growth of 8.5% in 2025, attributed to the recovery of international travel and increased demand for flights. The company also achieved a passenger growth of 10%, indicating successful expansion into new markets and an improvement in service quality.

In addition, Vietnam Airlines expanded its fleet by 15 new aircraft, increasing capacity and improving efficiency. These strategic investments could position the company advantageously to benefit from the recovery of the travel industry.

Analysts view the expansion and improved operational performance as positive indicators for the future. The long-term growth prospects appear promising, especially as global travel activity continues to increase.

Dividend payment: No dividend (2026)

Vietnam Airlines JSC has not paid any dividends in recent years. This is due to financial challenges and the impact of the COVID-19 pandemic, which have severely affected the aviation industry.

The company is currently focusing on stabilizing its finances and returning to profitability. Therefore, a dividend payment is unlikely in the short term until the financial situation significantly improves.