Red palm oil (RPO), which is rich in micronutrients, especially carotenoids, is different from its deodorized counterpart, palm oil. It is considered as one of the most promising food ingredients, owing to its unique compositions and nutritional values, while its usage could be further developed by improving its thermal behaviors. In this article, two typical commercial RPOs, HRPO (H. red palm oil) and NRPO (N. red palm oil), were evaluated by analyzing their fatty acids, triacylglycerols, micronutrients, oxidative stability index (OSI), and solid fat contents (SFCs). Micronutrients, mainly carotenes, tocopherols, polyphenols, and squalene, significantly increased the oxidative stability indices (OSIs) of the RPOs (from 10.02 to 12.06 h), while the OSIs of their micronutrient-free counterparts were only 1.12 to 1.82 h. HRPO exhibited a lower SFC than those of NRPO. RPOs softened at around 10 °C and completely melted near 20 °C. Although the softening problem may limit the usages of RPOs, that problem could be solved by incorporating RPOs with mango kernel fat (MKF). The binary blends containing 40% RPOs and 60% MKF exhibited desirable compatibilities, making that blend suitable for the manufacture of aerated emulsions with improved whipping performance and foam stabilities. The results provide a new application of RPOs and MKF in the manufacture of aerated emulsions with improved nutritional values and desired whipping capabilities.