Vietjet signs strategic agreement with Mitsubishi UFJ Lease & Finance Company

SINGAPORE – Vietjet Aviation Joint Stock Company signed a strategic agreement with Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG).

 

Signed in Tokyo, the agreement was witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and will pave the way for MUL to finance Vietjet’s acquisition of three brand new Airbus A321 aircraft, worth US$348 million.

 

The three aircraft are part of an earlier contract signed between Vietjet and Airbus. Vietjet will receive the aircraft this year to meet expansion plans for the airline’s domestic and international flight network. The airline has so far taken delivery of more than 20 brand new A321s and A320s.

 

Under the terms of the agreement, Vietjet and MUL will also work together to share best practices for the operation and management of airlines.

 

Last week, in the U.S., Vietjet also signed a series of deals worth a total of US$4.7 billion for engines and components maintenance support and its techical services, auxiliary power unit (APU) supply and APU technical maintenance and aircraft financing and/or purchasing.

 

In a bid to meet the rising travel demand, Vietjet is increasing its operation frequency for the Hanoi – Incheon route to 14 return flights per week. The increase will come into effect starting 2 August 2017.

 

Beginning 21 July 2017, the Hanoi – Taipei route will also enjoy a frequency of 11 round trips per week with flights available every Monday, Wednesday, Friday and Sunday.