Vietnam Airlines plans launch of cargo carrier next year, fleet expansion

National flag carrier Vietnam Airlines (HoSE: HVN) plans to launch a dedicated cargo airline in 2026, using its existing Airbus A321 fleet, general director Le Hong Ha announced at the company’s 2025 AGM held on Wednesday.

The carrier will begin by converting A321 passenger aircraft into freighters, with the first cargo aircraft expected to enter service on regional routes in Q4/2025, Ha added.

As part of its long-term logistics strategy, Vietnam Airlines is developing major cargo hubs at Long Thanh International Airport in Dong Nai province and Gia Binh Airport in Bac Ninh province to support the new cargo unit.

Currently, Vietnam lacks a specialized cargo airline after IPP Air Cargo scrapped its launch plan in 2021 due to Covid-related global market uncertainties.

Domestic airlines handle only 12% of outbound air freight, with the remaining 88% managed by foreign carriers, according to the local aviation watchdog.

At the same meeting, HVN chairman Dang Ngoc Hoa confirmed that Vietnam Airlines has finalized agreements to acquire 50 narrow-body aircraft, with 14 units set for delivery in 2030 and an additional 18 between 2031 and 2032.

To meet growing demand and replace aging jets, the airline also plans to lease or purchase 50 wide-body aircraft by 2035, including 20 for replacement and 30 for capacity expansion. It aims to retain its 50% share of the domestic market and broaden its international footprint.

For 2025, the carrier targets transporting 25.4 million passengers and 346,000 tons of cargo, up 11.6% and 11.5% year-on-year, respectively. It aims for consolidated revenue at VND116.72 trillion ($4.47 billion), up 3.5%. Meanwhile, it expects net-profit to decline 27.3% to VND5.6 trillion ($214.39 million).

Vietnam Airlines has now fully restored its services and surpassed pre-pandemic levels, operating 58 international and 38 domestic routes, serving 52 destinations across 18 countries/territories. It remains the only airline to serve all domestic airports in Vietnam.

In the first half of 2025, the carrier launched five new international routes to Beijing, Bangkok, Bengaluru, Hyderabad, and Busan, while resuming services to Moscow, Bali, Kuala Lumpur, and Hong Kong. It also plans to launch services to Milan in July and Copenhagen in December this year.