Vietjet Air has signed a financial agreement worth US$300 million with AV AirFinance, marking a key component of a broader aircraft financing strategy exceeding $4 billion.
The deals, secured with leading US financial institutions, are set to fuel Vietjet’s ambitious fleet development plan, which includes the delivery of nearly 300 aircraft between 2025 and 2027.
The agreement was formalised during a signing ceremony attended by Việt Nam’s Deputy Prime Minister Hồ Đức Phớc and other senior government officials. The event was part of an official mission to strengthen economic and trade ties between the US and Việt Nam.
The CEO of AV AirFinance, Stephen Murphy, emphasised the firm’s commitment to Vietjet’s expansion: “This new commitment reflects our strong relationship and willingness to support Vietjet’s resurgent growth in the Asia-Pacific region via new generation aircraft.”
Starting in 2025, Vietjet is set to receive the first batch of Boeing 737 MAX aircraft from its landmark order of 200 jets, a deal valued at over $24 billion. The deal was originally announced on February 27, 2019, in Việt Nam with then-US President Donald Trump in attendance. As part of its global expansion strategy, the airline is also exploring opportunities to further increase this order.
In addition to its collaboration with Boeing, Vietjet has forged long-term strategic partnerships with major US corporations including GE, Pratt & Whitney and Honeywell, with total contract values nearing $50 billion. Ongoing negotiations are projected to add another $14 billion, bringing the airline’s total US trade ties to approximately $64 billion.
Among these, engine and technical service agreements with GE and Pratt & Whitney alone have surpassed a combined value of $10 billion. Vietjet is also expanding its technology alliances with American firms such as Microsoft, Apple and Google, and is exploring collaboration with SpaceX to integrate cutting-edge technologies into its fleet.
These high-value contracts are expected to play a significant role in narrowing the trade imbalance between Việt Nam and the US moving forward.
With a strategic vision of developing a modern fleet and expanding its global flight network, Vietjet currently operates over 115 new, fuel-efficient aircraft and holds orders for more than 400 additional jets.
Celebrating the latest milestone, Chairwoman of Vietjet, Nguyễn Thị Phương Thảo, said: “I am steadfast in my commitment to working tirelessly and fostering global partnerships that help bridge cultures, economies and technologies between Việt Nam, the US and the wider world.” — VNS
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