Long Thanh airport investor records record profits

Airports Corporation of Vietnam (ACV) collected VND 6,860 billion in the first quarter of the year, an increase of about 8% over the same period. Aviation services such as takeoff and landing, ground service, passenger service, and security contributed the most with VND 5,700 billion. Non-aviation activities such as leasing space, advertising, providing utilities, infrastructure… bring in more than 850 billion VND, accounting for about 12% of total revenue. The remaining minority comes from sales.

Minus all expenses, ACV profit after tax is 3,346 billion VND, an increase of about 7% over the same period. This is the highest profitable quarter since equitization more than 10 years ago. The result increased the company’s undistributed after-tax profit at the end of the first quarter to VND 20,340 billion.

ACV has not yet announced its revenue and profit plan for 2026. The Corporation is reviewing and developing a production and business plan to submit to the general meeting of shareholders for approval in the near future.

In the annual report published at the end of April, the company’s leaders said that this year “is an important transition milestone” and a time to focus on improving management efficiency and increasing the operating capacity of airports.

ACV currently has total assets of more than 90,500 billion VND and charter capital of nearly 35,830 billion VND. The Ministry of Finance is the largest shareholder with an ownership rate of 95.4%. The corporation has 25 branches, most of which are domestic and international airports.

As the investor of the Long Thanh international airport project, in its annual report, ACV stated the goal of “expected to complete construction in the third quarter and put this airport into commercial operation in the fourth quarter of 2026”. However, in a recent report sent to the Government, ACV said there was a shortage of nearly 6,000 workers, risking a delay in completion by the end of this year.

In the first three months of the year, the corporation poured about 800 billion VND into phase one of the Long Thanh airport project, bringing the total construction cost to over 35,000 billion VND.

This is a national key project, with an area of ​​about 5,000 hectares and a total investment of nearly 337,000 billion VND. In phase one, the project invests in two runways and a terminal with a capacity of 25 million passengers.

Vietcap Securities Company’s analysis team in the middle of last month also postponed its assumption about the time of operation of Long Thanh airport, from mid-2026 to the first half of 2027. Vietcap expects this year’s ACV revenue to reach 27,568 billion VND and after-tax profit to 12,578 billion VND, up 6% and 4% respectively compared to last year.