Losing major customer Vietjet Air, billionaire Nguyen Thi Phuong Thao’s Ground Services Company of Saigon plans 41% profit reduction

The Ground Services Company of Saigon (SAGS) announced a 41% reduction in after-tax profit for 2025 due to Vietjet Air’s decision to self-manage ground services starting Q2. Vietjet contributed 39% of SAGS’s revenue last year, totaling around 600 billion VND in 2024. 2025 is expected to bring continued challenges for SAGS with fluctuating oil prices and decreased air travel demand stemming from global economic tensions. However, SAGS remains optimistic about Vietnam’s projected 8% GDP growth, investment in aviation infrastructure, and tourism policies creating favorable conditions for development. In response, SAGS plans to enhance service quality, seek new customers, and develop value-added services while strictly controlling costs and implementing technology in management.