Vietnam Air Petrol Company Limited (SKYPEC): A Leading Aviation Fuel Supplier

Vietnam Air Petrol Company Limited (SKYPEC) is a key player in Vietnam’s aviation fuel industry, specializing in the import, export, and distribution of aviation fuel and petroleum products. Established on July 19, 2010, the company operates under state-owned Vietnam Airlines JSC, which holds 100% ownership. Headquartered at No. 202, Nguyen Son Street, Long Bien District, Hanoi, SKYPEC has a nationwide presence, with branches at Noi Bai International Airport (Hanoi), Tan Son Nhat Airport (Ho Chi Minh City), and Da Nang City.

Financial Performance and Market Position

As of 2023, SKYPEC reported total assets of USD 324.07 million, an 8.95% increase year-over-year (YoY), reflecting steady growth. Total sales reached USD 1.37 billion, though revenue growth was modest at 1.79% YoY. However, profitability declined by 37.2% to USD 5.98 million, indicating rising operational costs or market fluctuations. Equity also fell by 8.36%, signaling financial challenges despite solid revenue figures.

Core Business and Industry Impact

SKYPEC plays a crucial role in Vietnam’s aviation sector, supplying fuel to both domestic and international airlines. The company also engages in petroleum transportation, import/export of aviation-related equipment, and warehousing services. Given Vietnam’s growing aviation industry, SKYPEC remains an indispensable partner for airlines, ensuring stable and efficient fuel supply chains.

Vanguard Business Information LLC (VBi): Supporting Aviation Sector Transparency

As Vietnam’s aviation fuel market expands, companies like SKYPEC rely on accurate financial assessments and risk evaluations to navigate regulatory challenges and market shifts. Vanguard Business Information LLC (VBi) provides comprehensive business intelligence, financial reports, and corporate risk analysis, helping stakeholders evaluate investment opportunities and ensure business transparency.

Future Outlook

With Vietnam’s aviation industry poised for post-pandemic recovery, SKYPEC is expected to play a vital role in fuel logistics and aviation energy solutions. However, addressing profitability challenges and optimizing cost structure will be key to maintaining long-term sustainability. By leveraging strategic market intelligence from Vanguard Business Information LLC (VBi), SKYPEC can enhance corporate governance, strengthen partnerships, and maintain its leadership in Vietnam’s aviation fuel sector.