Vietjet, AV AirFinance ink 300 million USD agreement to boost fleet growth

The agreement is part of a broader series of aircraft financing deals totaling over 4 billion USD that Vietjet has secured with leading US financial institutions. These commitments aim to support Vietjet’s new fleet development plan, with the projected delivery of nearly 300 aircraft between 2025 and 2027.

Vietnam’s new-age carrier Vietjet Air and AV AirFinance have signed a financial agreement worth 300 million USD, bringing the total trade ties between the airline and the US to 64 billion USD.

The signing was witnessed by Vietnamese Deputy Prime Minister Ho Duc Phoc and other senior government officials, as part of their working visit to promote US–Vietnam economic and trade relations.

The agreement is part of a broader series of aircraft financing deals totaling over 4 billion USD that Vietjet has secured with leading US financial institutions. These commitments aim to support Vietjet’s new fleet development plan, with the projected delivery of nearly 300 aircraft between 2025 and 2027.

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.”

In 2025, Vietjet will begin taking delivery of the first batch of Boeing 737 MAX aircraft from its landmark order of 200 aircraft, valued at over 24 billion USD. The deal was originally announced on February 27, 2019, in Vietnam under the witness of US President Donald Trump. As part of its global growth strategy, the airline is currently in discussions to further expand this historic order.

In addition to its collaboration with Boeing, Vietjet has established long-term strategic partnerships with several major US corporations, including GE, Pratt & Whitney, and Honeywell, with total contract values reaching approximately 50 billion USD. Ongoing negotiations are expected to add a further 14 billion USD. Notably, Vietjet’s engine and technical service agreements with GE and Pratt & Whitney alone now exceed a combined value of 10 billion USD. The airline is also deepening its technology partnerships with leading US firms such as Microsoft, Apple, and Google, while exploring collaboration with SpaceX to integrate advanced technologies across its fleet. These high-value contracts are poised to contribute significantly to reducing the trade imbalance between Vietnam and the US in the near future.

With a strategic focus on developing a modern fleet and a global flight network, Vietjet currently operates a fleet of over 115 new, fuel-efficient aircraft, with more than 400 additional aircraft on order.

AV AirFinance was established by a team of experienced industry professionals together with KKR and focuses on arranging financing for commercial aircraft to airlines, lessors, cargo operators and investors.

Dr. Nguyen Thi Phuong Thao, Chairwoman of Vietjet, hailed the signing and affirmed that she is committed to working tirelessly and fostering global partnerships that help bridge cultures, economies, and technologies between Vietnam, the US, and the world./.