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VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Active

Business ID 0102713673

84-24 / 3884 9657

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Active

Business ID 0102713673

84-24 / 3884 9657

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Active

Summary

Name:

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Business ID (TIN):

0102713673

Date of Registration:

02 Apr 2008

Registered Office:

Ha Noi City Department of Finance

Address:

Noi Bai International Airport, Noi Bai Commune, Ha Noi City, Vietnam

Phone:

84-24 / 3884 9657

Financial Statement:

2020, 2021, 2022, 2023, 2024

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED (Công ty TNHH Một Thành Viên Kỹ Thuật Máy Bay) is the dedicated maintenance, repair, and overhaul (MRO) subsidiary of Vietnam Airlines, operating since 2008 and headquartered at Nội Bài International Airport. As a state-invested enterprise with more than 2,800 employees, the company holds a critical position within Vietnam’s aviation ecosystem, ensuring airworthiness, technical reliability, and regulatory compliance for Vietnam Airlines’ fleet and numerous third-party carriers. Under the leadership of Chairman Nguyen C. T. and General Director Tran Q. H., the enterprise functions as both a strategic technical arm of the national flag carrier and a commercial service provider in the regional MRO market.

The company’s structure as a one-member limited liability firm wholly owned by Vietnam Airlines JSC provides strategic continuity and capital backing. Yet it also subjects the enterprise to broader challenges faced by its parent company—ranging from cash flow stress to post-pandemic operational recovery.

Operational Scope and Technical Capabilities

Vietnam Airlines Engineering (VAECO) performs maintenance, repair, and overhaul operations across major aviation hubs, including Hanoi, Ho Chi Minh City, and Da Nang. Its technical scope covers line maintenance, heavy checks, component repair, technical testing, and aircraft engineering services. Beyond core MRO activities, the company also engages in technical training, equipment leasing, machinery repair, and specialized engineering design. This diversified service portfolio allows VAECO to supplement revenue streams while supporting industry-wide capacity building.

However, diversification also reflects the operational pressures facing Vietnam’s aviation sector. While VAECO maintains strong technical competency, competition from regional MRO centers—such as Singapore, Thailand, and Malaysia—places pressure on both cost competitiveness and turnaround times. The company’s reliance on Vietnam Airlines as its primary client also creates concentration risk, particularly during periods when the parent airline faces volatility in passenger volumes, fuel pricing, and financial restructuring.

Financial Performance: Recovery with Structural Constraints

VAECO reported USD 96.96 million in assets for 2023, continuing a steady upward trend. Owner’s equity increased to USD 54.26 million, reflecting improving capital strength supported by state investment. Revenue surged to USD 97.74 million, up more than 16% from the previous year, demonstrating a strong rebound in maintenance activity as Vietnam’s air travel volumes recovered post-pandemic. Profit grew sharply to USD 4.72 million, a 36.6% increase, marking continued financial recovery.

While these figures reflect positive momentum, profitability remains modest relative to the company’s scale, asset base, and personnel costs. MRO operations are inherently labor-intensive, requiring strict compliance, expensive tooling, and ongoing investment in certifications. The company’s profit margin is still relatively thin, suggesting that cost pressures—including rising wages, imported spare parts, and airframe maintenance materials—continue to limit earnings. VAECO’s financial performance is also closely tied to Vietnam Airlines' financial health, which has undergone significant restructuring and still faces long-term debt challenges. Such dependency creates indirect financial exposure for the engineering subsidiary.

Strategic Outlook and Critical Assessment

VAECO remains essential to Vietnam’s aviation infrastructure. Still, its future competitiveness will hinge on the ability to modernize facilities, expand high-value MRO services, and attract international clients beyond its parent airline. Without stronger capital injection or strategic partnerships, the company risks lagging behind regional MRO hubs that operate on a larger scale, with newer equipment, and more aggressive business models.

The company’s improving financial results reflect operational recovery rather than structural transformation. To maintain long-term viability, VAECO will need to enhance operational efficiency, reduce reliance on its parent company, and strengthen its technical specialization in areas such as component overhaul and advanced aircraft systems.

Suppose you would like an extended financial analysis, a competitive benchmark against regional MRO providers, or a risk-focused assessment tailored for investors or partners. In that case, VNBIS can prepare a complete Company Financial or Comprehensive Report.

Legal Profile

English Name:

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Vietnamese Name:

CÔNG TY TRÁCH NHIỆM HỮU HẠN MỘT THÀNH VIÊN KỸ THUẬT MÁY BAY

Short Name:

VAE CO.,LTD

Business ID (TIN):

0102713673

Date of Registration:

02 Apr 2008

Registered Office:

Ha Noi City Department of Finance

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

+ NGUYEN C.T

+ TRAN Q.H

Address:

Noi Bai International Airport, Noi Bai Commune, Ha Noi City, Vietnam

Phone:

84-24 / 3884 9657

Branch:

(Tan Son Nhat Airport), A75, Truong Son Street, Tan Son Hoa Ward, Ho Chi Minh City, Vietnam

Branch:

Da Nang International Airport, Hoa Cuong Ward, Da Nang City, Vietnam

Branch:

Noi Bai International Airport, Noi Bai Commune, Ha Noi City, Vietnam

Business Sector

Key business lines:

VSIC:

5223 Service activities incidental to air transportation

NACE:

52.23 Service activities incidental to air transportation

NAICS:

4881 Support Activities for Air Transportation

Industry Sales Growth

CAGR (2019 - 2023)

3.28%

YoY (2023)

36.10%

Companies by industry

Company distribution and propportions

365

0.0126%

Key Industry Players

Top 10 companies in service activities incidental to air transportation industry

vietnam airlines engineering company limited airports corporation of viet nam noibai cargo terminal services joint stock company sai gon ground services joint stock company vietnam air traffic management corporation - company limited cam ranh international terminal joint stock company als cargo terminal joint stock company danang international terminal investment and operation joint stock company air cargo services of vietnam joint stock company vietnam airport ground services company limited

Payment History

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Financial Performance

Assets	-45.32%
Owner’s Equity	16.29%
Working Capital	9.79%
Net Worth	7.88%
Sales	30.79%
Operating income	-64.58%
EBIT	42.11%
Gross Profit Margin	43.17%
Debt to EBITDA	-2.85%

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Specific Questions About VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

When did VIETNAM AIRLINES ENGINEERING COMPANY LIMITED start operating?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED was started in 02 Apr 2008

What industry does VIETNAM AIRLINES ENGINEERING COMPANY LIMITED operate in?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED is operating in "Service activities incidental to air transportation" industry

How can I contact VIETNAM AIRLINES ENGINEERING COMPANY LIMITED?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED phone numbers is 84-24 / 3884 9657

What adverse news is there about VIETNAM AIRLINES ENGINEERING COMPANY LIMITED?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED’s has no negative news

What is stock symbol of VIETNAM AIRLINES ENGINEERING COMPANY LIMITED?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED is not listed company

Where is the location of VIETNAM AIRLINES ENGINEERING COMPANY LIMITED?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED is located at Noi Bai International Airport, Noi Bai Commune, Ha Noi City, Vietnam

What is VIETNAM AIRLINES ENGINEERING COMPANY LIMITED’s business registration?

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED business registration is 0102713673

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VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Operational Scope and Technical Capabilities

Financial Performance: Recovery with Structural Constraints

Strategic Outlook and Critical Assessment

Company Profile Report

Company Standard Report

Comprehensive Report

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VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

VIETNAM AIRLINES ENGINEERING COMPANY LIMITED

Operational Scope and Technical Capabilities

Financial Performance: Recovery with Structural Constraints

Strategic Outlook and Critical Assessment

Company Profile Report

Company Standard Report

Comprehensive Report

GET IN TOUCH FOR EXCLUSIVE DEALS!

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