The chairman of SAGS stated that losing Vietjet Air will result in a 20% loss of profit for the company, as it accounted for approximately 40% of the company’s revenue in 2024. Vietjet will handle ground services in-house starting April 2025, forcing SAGS to seek new customers. They are negotiating with Sun PhuQuoc Airways to make up for the loss, with potential revenue reaching 200 billion VND per year. SGN has recently signed a contract with United Airlines, expected to generate around 60 billion VND in annual revenue. The company will also continue to invest in the Long Thanh airport project. Revenue is projected to decrease by 15% in 2025, but profits could fall by 41% due to staff salary and severance costs. Besides the challenges posed by Vietjet, the company is also looking for new business opportunities, including cargo services at Long Thanh airport.
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