VietJetAir Raises $191M from Sovico, Local Investor

VietJet Aviation JSC has raised VND5 trillion (USD191 million) through a private capital increase after selling 50 million shares to two major shareholders. The capital injection strengthens the airline’s financial position as it continues to expand aggressively and manage heavy pre-delivery aircraft payment obligations.

Aviation Joint Stock Company, formerly Sovico Aviation JSC, increased its stake in VietJetAir from 1.69% to 5.92% by acquiring 25 million shares on June 12, 2025, regulatory filings show. The second investor, Dynamic & Development Investment JSC, also acquired 25 million shares, taking a 4.23% stake. The filing identifies the latter as a local professional securities investor.

Shares were sold at VND100,000 (USD3.82) each and come with full voting rights. Both investors agreed to a 12-month lock-up period. The proceeds will primarily be used to repay outstanding loans. The new capital also raised VietJet’s charter capital from VND54.2 trillion (USD2.1 billion) to VND59.2 trillion (USD2.3 billion).

VietJetAir posted a Q1 2025 after-tax profit of VND641 billion (USD24.5 million) and is forecasting a full-year pre-tax profit of VND2.2 trillion (USD84 million). Despite financial challenges, including a recent USD181 million UK court ruling against it in an aircraft lease dispute, the airline remains focused on growth.

VietJet currently has 336 aircraft on order, including A321neo, A330-900neo, and Boeing 737 MAX variants. It recently signed an MoU with Airbus for 100 more A321neos, with options for an additional 50 aircraft.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com