Sai Gon Ground Services Joint Stock Company projected over 40% profit decrease for 2025 after losing major client

Sai Gon Ground Services Joint Stock Company (SGN) recently unveiled a challenging business plan for 2025, anticipating a post-tax profit of only VND 159 billion, a sharp 41% drop from 2024. The primary reason cited was the company's cessation of ground handling services for Vietjet at Tan Son Nhat airport from April 2025, as this airline previously accounted for 38% of SGN's total revenue. Additionally, SGN's leadership noted that the aviation market faces numerous risks, including volatile fuel prices, global economic tensions, and the growth of road transportation. Despite these short-term challenges, SGN remains optimistic about future growth opportunities with the upcoming operation of Long Thanh Airport.

Sai Gon Ground Services Joint Stock Company (SGN) recently unveiled a challenging business plan for 2025, anticipating a post-tax profit of only VND 159 billion, a sharp 41% drop from 2024. The primary reason cited was the company's cessation of ground handling services for Vietjet at Tan Son Nhat airport from April 2025, as this airline previously accounted for 38% of SGN's total revenue. Additionally, SGN's leadership noted that the aviation market faces numerous risks, including volatile fuel prices, global economic tensions, and the growth of road transportation. Despite these short-term challenges, SGN remains optimistic about future growth opportunities with the upcoming operation of Long Thanh Airport.

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