Vietjet signs multi-billion USD deals during PM’s official trip to US

 Vietjet Aviation Joint Stock Company signed with CFM International, a joint venture of General Electric (GE) and Safran Aircraft Engines, an agreement on May 31 on supporting 215 engines to power the airline’s fleet.

Vietjet’s President and CEO Nguyen Thi Phuong Thao (front, right) and President and CEO of CFM International Gaël Méheust (front, left). Prime Minister Nguyen Xuan Phuc and US Secretary of Commerce Wilbur L. Ross, Jr (behind) are present at the signing ce

Vietjet’s President and CEO Nguyen Thi Phuong Thao (front, right) and President and CEO of CFM International Gaël Méheust (front, left). Prime Minister Nguyen Xuan Phuc and US Secretary of Commerce Wilbur L. Ross, Jr (behind) are present at the signing ce

The agreement was inked in the presence of Prime Minister Nguyen Xuan Phuc, who is on an official visit to the US, and US Secretary of Commerce Wilbur L. Ross, Jr in Washington D.C.

The 12-year-long agreement, valued at US$ 3.6 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. 

“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,” she added. 

On this occasion, Vietjet and GECAS under GE signed a Memorandum of Understanding on aircraft financing worth US$ 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 US$ 180 million, is aimed to help Vietjet’s fleet be maintained under world leading standards.


VNS

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