Vietjet signs USD 300 mn deal to boost feet expansion
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In 2025, Vietjet will begin taking delivery of the first batch of Boeing 737 MAX aircraft from its order of 200 aircraft, valued at over USD 24 billion.
Vietjet Air and AV AirFinance have signed a financial agreement totalling USD 300 million. The signing ceremony took place in the presence of Vietnam’s Deputy Prime Minister Ho Duc Phoc and other senior Vietnamese government officials, as part of an official mission aimed at strengthening U.S.–Vietnam economic and trade relations.
The agreement is part of a broader series of aircraft financing deals totalling over USD 4 billion that Vietjet has secured with leading U.S. 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, “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 order of 200 aircraft, valued at over USD 24 billion. The deal was originally announced on February 27, 2019, in Vietnam, in the presence of U.S. President Donald Trump. As part of its global growth strategy, the airline is currently in discussions to further expand this order.
In addition to its collaboration with Boeing, Vietjet has established long-term strategic partnerships with several major U.S. corporations, including GE, Pratt & Whitney, and Honeywell, with total contract values reaching approximately USD 50 billion. Ongoing negotiations are expected to add a further USD14 billion. Notably, Vietjet’s engine and technical service agreements with GE and Pratt & Whitney alone now exceed a combined value of USD10 billion. The airline is also deepening its technology partnerships with leading U.S. firms such as Microsoft, Apple, and Google, while exploring collaboration with SpaceX to integrate advanced technologies across its fleet. These contracts are poised to contribute significantly to reducing the trade imbalance between Vietnam and the United States soon.
Dr. Nguyen Thi Phuong Thao, Chairwoman of Vietjet, congratulated the signing event and affirmed, “I am steadfast in my commitment to working tirelessly and fostering global partnerships that help bridge cultures, economies, and technologies between Vietnam, the United States, and the wider world.”
The airline currently operates a fleet of over 115 new, fuel-efficient aircraft, with more than 400 additional aircraft on order. It has been solidifying its position as the airline with the most extensive flight network between India and Vietnam, operating 10 direct routes with 78 flights per week. This network connects New Delhi, Mumbai, Ahmedabad, Kochi, Hyderabad, and Bengaluru, to key Vietnamese hubs—Ho Chi Minh City, Hanoi and Da Nang.