Aviation Joint Stock Company (JSC), formerly known as Sovico Aviation JSC, has increased its stake in VietJet Aviation JSC trading as VietJetAir (VJ, Hanoi Noi Bai International), to 5.92%. Aviation JSC acquired 25 million shares on June 12, 2025, according to regulatory filings. It formerly held 10 million shares, a 1.69% shareholding in the airline.
A second entity, Dynamic & Development Investment JSC, also acquired 25 million shares in VietJet on the same day, giving it a 4.23% shareholding in the carrier. The filing describes the company as a local professional securities investor.
VietJet Aviation JSC sold the shares at VND100,000 dong (USD3.82) each via a private capital raising, collecting VND5 trillion (USD191 million) minus expenses. The two transactions increased VietJet Aviation JSC's charter capital from VND54.2 trillion (USD2.1 billion) to VND59.2 trillion (USD2.3 billion). The shares were sold with full voting rights, and according to the filing, the funds raised will be used to repay loans. Both buyers have agreed to hold the shares for at least 12 months.
VietJet reported an after-tax profit of VND641 billion (USD24.5 million) for the first quarter of 2025 and projects a calendar 2025 pre-tax profit of VND2.2 trillion (USD84 million). The airline is bullish on its growth prospects and has an aggressive expansion strategy.
The carrier has 336 aircraft on order, according to ch-aviation Commercial Aviation Aircraft Data, including seventy-six A321-200NX, twenty A321-200NY(XLR)s, forty A330-900Ns, 100 B737-8s, and 100 B737-8-200s, imposing significant pre-delivery payment obligations on the airline. It recently signed an MoU with Airbus for another 100 A321neo with options for a further 50. Additionally, in May, the UK High Court slapped VietJet with a USD181 million damages penalty following an aircraft lease dispute. The airline said then that it could not afford to pay that bill.
