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Vietjet signs deals worth USD 4.7 billion

Vietjet and GECAS under GE signed a Memorandum of Understanding in aircraft financing worth USD 1 billion. Accordingly, GECAS will support Vietjet to finance and/or purchase and enter into leaseback arrangement of 10 aircraft ordered by Vietjet.

Washington D.C. – Vietjet Aviation Joint Stock Company signed an agreement with CFM International – a joint venture of GE and Safran, in Washington on supporting 215 engines to power the airline’s fleet under the witnesses of Vietnam’s Prime Minister Nguyen Xuan Phuc and U.S. Secretary of Commerce Wilbur L. Ross, Jr. The 12 year-long agreement which is valued at USD 3.58 billion includes other technical services, engines and components maintenance.
 
Speaking at the signing ceremony, Vietjet’s President and CEO Nguyen Thi Phuong Thao said: “We are orienting our fleet to aircraft families and engines which are of efficient fuel consumption and environment friendly. The engines under today agreement will help us to save up to 15 percent of fuel consumption as well as to obtain other comprehensive services in technical support, maintenance and training. It is our great honor to be a partner of GE and CFM International. Thanks to this agreement, Vietjet’s fleet can enjoy new technical and technological advances which enhance our flight quality and operation reliability and reduce costs. We strongly believe that this agreement will promote economic and trade exchange between the two countries and create million jobs for the two peoples.
 
We appreciate the high level of confidence this agreement shows in CFM and in our ability to support Vietjet over the long term,” said Gael Meheust, President and CEO of CFM International. “It has been an honor to be a part of the very dynamic and exciting team for the last six years.  It is a privilege to know that this very special relationship will continue for many more years to come.
 
On this occasion, Vietjet and GECAS under GE signed a Memorandum of Understanding in aircraft financing worth USD 1 billion. Accordingly, GECAS will support Vietjet to finance and/or purchase and enter into leaseback arrangement of 10 aircraft ordered by Vietjet.
 
Vietjet and Honeywell Aviation also inked an agreement on auxiliary power unit supply and technical maintenance to power the airline’s 98 airplanes. The agreement which is worth USD 180 million, is aimed to help Vietjet’s fleet be maintained under world leading standards.
 
 
Photo caption: Vietjet’s President and CEO Nguyen Thi Phuong Thao and President and CEO of CFM International Gael Meheust at the signing ceremony with the witness of Vietnam Prime Minister Nguyen Xuan Phuc

 

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Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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