Airport lounge business: 1 capital, 4 profits

For every 100 VND of revenue from business lounge services, Tan Son Nhat Airport Services Company earns nearly 81 VND of gross profit after deducting cost of goods sold.

Customers experience services in the business class lounge area at the airport - Photo: SASCO

According to the financial report for the first quarter of 2025, the lounge segment has surpassed the duty-free shop business segment, becoming the largest source of revenue for Tan Son Nhat Airport Services Joint Stock Company (Sasco).

In the first 90 days of this year, this business earned nearly VND229 billion in revenue from the waiting room business segment (an increase of more than 28% over the same period last year), with a cost of capital of just over VND43 billion.

Thus, each dollar invested in this segment brings in more than four dollars in gross profit. Although this figure does not include other expenses (such as operations, marketing, etc.), which may reduce net profit, overall, this is still a significant profit.

Meanwhile, the duty-free store segment only achieved revenue of VND223 billion, down 6% year-on-year, with a gross profit margin of nearly 21% (down 1.4 percentage points compared to the first quarter of 2024).

In the first quarter of the 2023-2025 period, Sasco's lounge revenue increased by more than 86%, while gross profit margin improved from 75.9% to nearly 81%.

Sasco's business activities are mainly concentrated at Tan Son Nhat airport, but there are still business lounge services at Cam Ranh airport ( Khanh Hoa ) or Phu Quoc (Kien Giang).

Currently, Vietnam Airports Corporation (ACV) owns 49.07% of Sasco, while businesses related to Mr. Nguyen Hanh (Johnathan Hanh Nguyen), chairman of the company's board of directors, hold more than 45%.

By the end of 2024, this enterprise will have more than 1,160 employees with an average income of nearly 30 million VND/person.

Not only Sasco, many businesses in the non-aviation service industry also recognize great potential from the business lounge segment.

Noi Bai Airport Services Joint Stock Company (Nasco) has just started operating business lounge services at Phu Cat Airport (Quy Nhon), and introduces itself as the enterprise with the second-ranked domestic business lounge in the SkyTeam alliance system, and the first-ranked international lounge at Noi Bai Airport.

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HONG PHUC

Source: https://tuoitre.vn/kinh-doanh-phong-cho-o-san-bay-1-dong-von-4-dong-loi-20250424220530189.htm