In its newly released 2025 annual report, Airports Corporation of Vietnam (ACV) said both domestic and international aviation would face major challenges in the coming period, with the Jet A1 aviation fuel crisis emerging as the most serious concern.
Aircraft on the apron (Illustrative photo: DT)
According to ACV, conflict in the Middle East has disrupted supply chains for Jet A1 fuel, pushing prices sharply higher. The physical surcharge reached a peak of USD 39.6 per barrel, a twentyfold increase.
Domestic Jet A1 supply currently meets only around 20 per cent of demand, while the remaining 80 per cent depends on imports from countries such as China, Thailand and South Korea, which are now restricting exports.
Facing these pressures, Vietnamese airlines are prioritising key domestic routes linking Hanoi, Danang and Ho Chi Minh City, as well as international services. Airlines are also consolidating flights, optimising seat occupancy rates and suspending overnight operations between midnight and 5 am.
ACV, which operates 21 airports nationwide, said this had significantly reduced the number of take-offs and landings across its airports.
The corporation estimated that domestic ticket prices had increased by an average of 15 to 20 per cent as airlines reduced the availability of low cost fare classes. This has led to weaker passenger demand, particularly in the leisure travel segment.
The Civil Aviation Authority of Vietnam has also recently proposed allowing fuel surcharges on domestic flights to support airlines, as rising fuel costs continue to put heavy pressure on carriers while existing support policies cover only part of the burden.
Vietnam Airlines estimated that fuel price fluctuations could add between VND 11 trillion and VND 27 trillion (approximately USD 423 million to USD 1.04 billion) in annual costs.
Vietjet said its operating costs increased by around USD 24 million in April alone, with Jet A1 prices reaching USD 195 per barrel.
Beyond the energy crisis, ACV said the aviation sector also faces other risks, including volatile exchange rates and unpredictable interest rate movements, which could reduce operating efficiency.
The corporation has not yet announced specific revenue and profit targets for 2026 and said it is still reviewing and finalising its business plan for shareholder approval.
In 2025, ACV recorded revenue of more than VND 25.53 trillion (approximately USD 981 million) and pre tax profit of VND 13.472 trillion (approximately USD 518 million), up 12 per cent and 6 per cent respectively from 2024.
Last year, 120.3 million passengers passed through ACV airports, up 9.4 per cent, including 47.1 million international passengers, an increase of 14 per cent.
As the main investor of the Long Thanh International Airport project, ACV said it still aims to complete construction in the third quarter and begin commercial operations in the fourth quarter of 2026.
The company has signed a consulting agreement with Incheon International Airport Corporation to support testing plans, operational transfer and traffic forecast updates.
However, in a recent report submitted to the government, ACV warned that the Long Thanh airport project is facing a shortage of nearly 6,000 workers, raising the risk of delays to its targeted completion by the end of this year.
