Budget carrier Vietjet records loss of $93 mln in 2022
Vietnamese budget airline Vietjet Air reported a loss of VND2,171 billion ($92.58 million) in 2022, while in the same period last year it made profit of VND122 billion ($5.2 million).
The company's revenue reached VND39,342 billion ($1.68 billion), a three-fold year-on-year increase, according to its consolidated Q4 financial statement.

A Vietjet plane. Photo courtesy of Vietnam News Agency.
According to the company, in 2022, in order to increase cash flow to offset core business activities, Vietjet transferred over VND3,559 billion ($151.77 million) to the parent company to increase investment in assets, buying one new A321 NEO aircraft from Airbus and two A321 aircraft from aircraft leasing partners (Lessor), along with three engines.
In 2022, Vietjet carried 20.5 million passengers on 116,000 flights. Domestic passenger transport increased by 20% compared to 2019 and was a key factor leading the recovery.
Vietjet opened more than 20 new routes in 2022, focusing mainly on the Indian market, connecting economic and tourist centers including New Delhi, Mumbai, Hanoi and Ho Chi Minh City. As of December 31, 2022, Vietjet operated a total of 103 routes.
In the fourth quarter of 2022, the low-cost airline recorded a revenue of VND11,807 billion ($503.51 million), up four times year-on-year. The company reported a loss of VND2,358 billion ($100.56 million) in the period, while the same period last year it lost VND93 million ($3,970).
In 2023, Vietjet has set a target of high revenue thanks to the opening of the Chinese market and promoting the exploitation of potential international markets including India, South Korea, Japan, and Australia.
The Vietjet Aviation Joint Stock Company is listed on the Ho Chi Minh Stock Exchange as VJC. It closed trading on Friday at VND112,000 ($4.78).
- Read More
Vietnam aims to finalize negotiations for Ninh Thuan 1 nuclear power plant by August
The Vietnamese government targets completing negotiations for Ninh Thuan 1 nuclear power plant in former Ninh Thuan province (now Khanh Hoa) by August 2025, and for Ninh Thuan 2 by May 2026 at the latest.
Energy - Fri, August 8, 2025 | 4:18 pm GMT+7
Software giant SAP invests $175 ml in R&D center in Vietnam
German software heavyweight SAP has officially launched a research & development center in Vietnam, with plans to invest more than €150 million ($175 million) over the next five years.
Industries - Fri, August 8, 2025 | 3:43 pm GMT+7
Carlsberg’s $130 mln plant expansion in central Vietnam set to start brewing next month
The expansion of Carlsberg’s brewery in Hue city, central Vietnam, with an investment of over VND3.4 trillion ($129.66 million), has entered trial runs and is scheduled to begin full production in September, Carlsberg Vietnam said.
Industries - Fri, August 8, 2025 | 2:43 pm GMT+7
Indonesia promotes nickel-based EV battery production
Indonesia is advocating regulations to encourage electric vehicle (EV) manufacturers to switch from the commonly used lithium-based batteries to nickel-based ones.
Southeast Asia - Fri, August 8, 2025 | 1:54 pm GMT+7
BRICS countries account for over 35% of Malaysia’s total foreign trade turnover
Malaysia’s trade with BRICS nations climbed to RM818 billion ($193.47 billion) in 2024, making up 35.2% of the country’s total global trade, according to the Ministry of Investment, Trade and Industry (MITI).
Southeast Asia - Fri, August 8, 2025 | 1:52 pm GMT+7
Vietnam consumer finance major F88’s stock hits ceiling price on UPCoM debut
The stock of F88 Investment JSC (F88), a leading consumer finance company in Vietnam, hit its ceiling price of VND888,800 ($34) on Friday, the first day of trading on the Unlisted Public Companies Market (UPCoM).
Companies - Fri, August 8, 2025 | 1:32 pm GMT+7
US tariff unlikely to dent Vietnam’s long-term FDI appeal: broker
The U.S. tariff gap between Vietnamese goods and those from four other Southeast Asian countries would not erode Vietnam’s competitive edge in manufacturing and investment, said Hanoi-based Vietcombank Securities (VCBS).
Economy - Fri, August 8, 2025 | 12:24 pm GMT+7
Land clearance for Vietnam's North-South high-speed railway project to start on December 19
Prime Minister Pham Minh Chinh has requested localities to start land clearance en masse for the gigantic North-South high-speed railway project on December 19.
Economy - Fri, August 8, 2025 | 11:52 am GMT+7
Vietnam might launch pilot digital asset exchange in August
A digital asset exchange might be launched in August on a pilot basis, Deputy Minister of Finance Nguyen Duc Chi told a government press meeting on Thursday.
Finance - Fri, August 8, 2025 | 11:25 am GMT+7
Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development
Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.
Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7