VIETNAM. Johnathan Hanh Nguyen, the renowned pioneer of Vietnam’s travel retail and aviation sectors, has been re-elected as Chairman of SASCO (Southern Airports Services ISC) for a further five-year term. Nguyen is also Founder and Chairman of powerful IPP Group, a driving force in the country’s retail, luxury, aviation and airport commercial revenues sectors (IPP Group is co-hosting The Trinity Forum 2024, to be held in Ho Chi Minh City on 5-6 November. Look out for big news coming on that event next week).
Informed sources say his reelection is pivotal to the development of the much-anticipated Long Thanh International Airport, currently under construction 40km east of Ho Chi Minh City and the integration of terminals 1, 2 and 3 at Tan Son Nhat International Airport, also in Ho Chi Minh City.
Pivotal as we approach LTIA and TSN T3-T2-T1 integration for domestic capacity
The voting took place during the company’s Annual General Meeting on 10 April. Aside from Nguyen, the following members were elected as officers by the Board of Directors: Nguyen Van Hung Cuong, Le Hong Thuy Tien, Le Thi Dieu Thuy and Le Anh Tuan. Each will serve for the 2024-2029 term:
In a statement, the company said: “With extensive experience in the field of airport services and international trade, the Board of Directors and Supervisory Board of SASCO in the new term will strongly promote the achievements of the past 30 years, bringing SASCO to fruition.”
SASCO also presented shareholders with the company’s growth targets amid the global economic recovery.
SASCO said it ended 2023 strongly with positive results across many key strategic goals, creating momentum and strength for more solid progress.
The company posted net revenue of VNĐ2,762 billion (US$108.7 million), up +17% compared to the original plan. Pre-tax profit surged by +22% year-on-year to VNĐ334 billion (US$13.15 million).
SASCO said 2023 was a “pivotal year”, which showed the company was “full of resilience”. SASCO will continue to focus on enhancing its service ecosystem and airport amenities with several projects to be launched that will enhance the country’s international airport services.
Despite global economic headwinds, SASCO continues to contribute to the progress of Vietnam’s wider aviation industry, including the development of Tan Son Nhat International Airport Terminal 3.
It is also capitalising on the VNĐ336,630 billion (US$13.25 billion) Long Thanh International Airport mega project, which is being developed over three construction phases, with the first phase due for completion in 2026.
For 2024, SASCO is projecting revenue to hit VNĐ2,903 billion (US$114.27 million), +5% higher than the previous year, and profit before tax is targeted to be VNĐ343 billion (US$13.5 million), up +3% year-on-year. 
Camille Bersola