HVN

14

February

Aviation – Note – [Nonrated] – 4Q24: Aviation up on international travel

The overall air traffic grew 7% YoY in 4Q24 thanks to rising international travel, passenger numbers declined slightly by 1% YoY, international arrivals reached 4.88mn pax (+31% YoY). Airlines give...
Report (2)

10

January

Aviation Sector – In-depth – [NONRATED] – 2025 Outlook: Await the return of domestic demand

In 2025F, we expect that (a) airfares could decline as new supply enters the market and stored aircraft gradually returns, and (b) consumers could spend more on leisure and travel...
Report (2)

21

November

Aviation – Note – [NONRATED] – Competition arises in the international market

In 3Q24, the aviation industry revenue (represented by HVN and VJC with 70- 80% of total scheduled seats) increased 9% YoY thanks to higher air traffic (+7% YoY), but lower...
Report (5)

22

August

HVN – Brief – [NONRATED] – Debt write-off saved bottom line

In 2Q24, HVN carried 5.8mn passengers (+14% YoY) and reported a VND24.9tn revenue (+20% YoY). NPAT increased to VND1.0tn, however, excluding profits from the debt write-off in 1Q24 and 2Q24,...
Report (1)

05

July

Aviation sector – In-depth – [NONRATED] – Turnaround year

In 1Q24, VJC and HVN’s transportation revenue went up despite negative air passenger growth, which resulted from (1) Vietnamese airlines’ expansion to the international market and (2) higher fares due...
Report (21)
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