Vietjet Air and AV AirFinance have signed a financial agreement worth US$300 million, in a ceremony attended by Vietnam's Deputy Prime Minister Ho Duc Phoc and senior government officials. This deal is part of a broader financing package, exceeding US$4 billion, aimed at supporting Vietjet's fleet development, with nearly 300 aircraft set to be delivered between 2025 and 2027.
The airline's fleet expansion includes the first batch of Boeing 737 MAX aircraft, part of a historic order of 200 aircraft valued at over US$24 billion, initially announced in 2019. Vietjet is also in discussions to expand this order further.
Alongside Boeing, Vietjet has secured long-term strategic partnerships with major U.S. companies like GE, Pratt & Whitney and Honeywell, with contracts totalling approximately US$50 billion. These agreements, including engine and technical services worth over US$10 billion, will contribute to reducing the U.S.-Vietnam trade imbalance. Additionally, Vietjet is deepening ties with tech giants such as Microsoft, Apple, and Google and exploring collaboration with SpaceX to enhance its fleet with advanced technologies.
Stephen Murphy, CEO of AV AirFinance, said: “We are delighted to be a long-term strategic partner of Vietjet. This new commitment reflects our strong relationship and willingness to support Vietjet's resurgent growth in the Asia-Pacific region via new generation aircraft.”
With a focus on modernising its fleet and expanding globally, Vietjet currently operates over 115 fuel-efficient aircraft and has more than 400 additional aircraft on order.
