Saigon Ground Services Joint Stock Company (SAGS) has announced it will terminate its contract to provide ground services for Vietjet Air at Tan Son Nhat airport effective April 20, 2025, as Vietjet decides to handle these services independently. SAGS plans to readjust its business strategies, seek new customers, and cut costs to compensate for lost revenue. This marks the second time in less than two years that SAGS has ended collaboration with a major airline, following Bamboo Airways over overdue debt. In 2024, SAGS reported a revenue of 1.518 trillion VND, with a net profit of 294 billion VND, up 4% and 22%, respectively. The company is also launching a long-term investment project at Long Thanh airport with an estimated capital of 790 billion VND, partnering with HGS, with SAGS contributing 75% of the investment.
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