TPO - By the third quarter of this year, Vietnam Airports Corporation reduced nearly 3,700 people and currently has more than 7,100 employees, equivalent to 34% compared to the beginning of the year. Vietnam Airlines reduces more than 1,000 employees, equivalent to about 5% of total workforce.

Vietnam Airports Corporation (stock code: ACV) has just announced its third quarter consolidated financial report with net revenue reaching 6,066 billion VND, down 6% over the same period. Of which, revenue from providing aviation services in the quarter reached more than 4,940 billion VND, down 8%. Non-aviation service revenue reached VND 908 billion, up 7% over the same period.

Notably, financial revenue in the third quarter reached 165 billion VND (down 56%), deposit interest was 29 billion VND, compared to 113 billion VND in the same period. Financial expenses increased from VND 41 billion to VND 196 billion, equivalent to an increase of 380%. The exchange rate difference loss due to the end-of-period assessment is nearly 168 billion VND. Business management costs increased by 10% to VND 398 billion. As a result, ACV achieved profit after tax of VND 2,083 billion, down 35% over the same period.

Accumulated for the first 9 months of May, net revenue reached 19,226 billion VND, a slight increase over the same period. Profit after tax reached more than 8,740 billion VND, down 2%. Construction in progress costs reached more than 47,370 billion VND, an increase of 12,176 billion VND.

Unfinished costs at Long Thanh International Airport project phase 1 reached nearly 44,130 billion VND, an increase of more than 9,900 billion VND - equivalent to 29% over the same period. This account accounts for the majority of the enterprise's total construction in progress costs. The project to expand and upgrade Ca Mau Airport recorded unfinished costs of 855 billion VND, the Cat Bi cargo terminal project reached 490 billion VND.

Cash and cash equivalents at the end of the period reached VND 4,969 billion, up 17% compared to the beginning of the year. Short-term financial investment is more than VND 5,180 billion, down 51%. ACV's liabilities reached more than 20,260 billion VND, down 1,745 billion VND. Total outstanding loans reached 9,185 billion VND, down 527 billion VND - equivalent to 5%. Equity at the end of the period reached nearly 76,340 billion VND, an increase of nearly 6,440 billion VND compared to the beginning of the year.

As of September 30, ACV had more than 7,100 employees, a decrease of nearly 3,700 people, equivalent to 34% compared to the beginning of the year.

Meanwhile, Vietnam Airlines Corporation (Vietnam Airlines - stock code: HVN) had revenue from sales and service provision reaching nearly 39,170 billion VND in the third quarter, an increase of 29% over the same period last year.

In the revenue structure, the air transport segment brought in more than 27,635 billion VND, an increase of 15%. Of which, revenue from transporting passengers and luggage reached 24,316 billion VND (up 13%), revenue from transporting goods and parcels reached more than 2,770 billion VND (up 42%). After deducting expenses and taxes, Vietnam Airlines recorded a consolidated after-tax profit of nearly 320 billion VND.

According to Vietnam Airlines, fuel price fluctuations due to geopolitical tensions in the Middle East have had an adverse impact on production and business activities in the second and third quarters of this year.

In the separate financial report, the parent company's fuel costs increased by nearly 4,360 billion VND, equivalent to 61% over the same period last year. Accumulated in the first 9 months of this year, HVN recorded more than 114,260 billion VND in net revenue, an increase of 29% over the same period.

In 2026, Vietnam Airlines targets consolidated revenue of 138,899 billion VND, an increase of 12% over the same period, and profit after tax of 22 billion VND. Thus, the company far exceeded its annual profit plan after only 3 quarters.

As of September 30, the total number of employees of Vietnam Airlines (parent company and subsidiaries, including outsourced workers) was nearly 22,600 people. By December 31, 2025, this number is nearly 23,700 people. Thus, in the past 9 months, HVN has reduced more than 1,000 employees, equivalent to about 4.6% of the total number of employees.

SGN increases profits and labor

In the third quarter of this year, Saigon Ground Services Joint Stock Company (stock code: SGN) achieved net revenue of 433 billion VND, an increase of 23% over the same period last year. Net profit reached 78 billion VND, up 105% over the same period.

According to SGN's explanation, third quarter business results improved even though the business stopped providing domestic services to Vietjet from April 20, 2025 and stopped serving the airport for international flights at Tan Son Nhat from November 1, 2025.

In return, SGN has another big customer, Sun PhuQuoc Airways. Operational output from this airline increased thanks to the expansion of its fleet. In addition, United Airlines' Da Nang branch service activities and SAGS - CXR subsidiary in Cam Ranh also recorded increased output.

Accumulated for 9 months, SGN recorded net revenue of 1,216 billion VND, an increase of 8% over the same period. Net profit reached 210 billion VND, an increase of 27%.

As of September 30, SGN's total assets reached VND 2,130 billion, an increase of 23% compared to the beginning of the year. Cash and cash equivalents increased by 74%, to VND 465 billion. In contrast, short-term financial investments decreased by 10% to VND 738 billion.

As of September 30, Saigon Ground Services Joint Stock Company had 1,592 employees, an increase of 129 employees compared to the same period in 2025.