Vietjet signs deals worth USD 4.7 billion during Prime Minister Nguyen Xuan Phuc’s official trip to US

Vietjet Aviation Joint Stock Company recently signed an agreement with CFM International - a joint venture of GE and Safran, on supporting 215 engines to power the airline’s fleet. The signing was witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and U.S. Secretary of Commerce Wilbur L. Ross, Jr in Washington D.C. 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 environmentally friendly. The engines under the agreement will help us to save up to 15 percent of fuel consumption as well as 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 will 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 many job opportunities for the two parties.”

“We appreciate the high level of confidence this agreement shows in CFM and in our ability to support Vietjet over the long term,” said Gaël Méheust, 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 a leaseback arrangement of 10 aircrafts 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 towards ensuring Vietjet’s fleet is maintained under world leading standards.