Vietjet, Vietnam’s leading low-cost carrier, is set to expand its fleet and global reach. A financing agreement with Castlelake, the global alternative investment manager will see a further fleet acquisition of four narrowbody aircraft.
The two companies recently signed a Memorandum of Understanding (MOU) at the Vietnam-Ireland Business Forum. It paves the way for a $560 million deal to finance four new Airbus A321neo aircraft.
Further Agreement with Castlelake
This landmark agreement, witnessed by Vietnam’s General Secretary and State President To Lam, builds upon a successful partnership established in 2023.
Last year, Castlelake provided financing for three A321neo aircraft, laying the groundwork for this latest collaboration. The four new A321neo single-aisle aircraft are slated for delivery this year. The further acquisition will significantly boost Vietjet’s capacity to serve its growing passenger base.
With over 200 million travelers already flown, including countless first-time flyers, Vietjet continues to democratize air travel across Southeast Asia and beyond.
Chris Buckley, Partner and Aviation Chief Commercial Officer at Castlelake, was pleased with the further agreement. “We’re thrilled to strengthen our relationship with Vietjet and support their mission to provide exceptional aviation service through our finance leasing solutions. We look forward to exploring more opportunities to grow the business together in the future.”
Domestic and International Expansion Plan
Vietjet’s ambitious expansion plan aims to broaden its network both domestically and internationally. New routes are on the horizon, connecting Vietnam to exciting destinations in Australia, India, China, Japan, South Korea, and various Southeast Asian countries.
Dinh Viet Phuong, Vietjet’s Chief Executive Officer, highlighted the strategic importance of the agreement. “This aligns perfectly with our vision to expand our fleet and global flight network. With international financing backing us, we can continue providing safe, comfortable, and cost-effective flights on modern aircraft.”
“This means connecting travelers to exciting global destinations. Our services not only enhance tourism but also drive economic growth and foster cultural exchange among countries and continents.”
Vietjet Current Fleet Operations
Vietjet’s commitment to excellence extends beyond passenger comfort. The airline currently operates a diverse fleet of over 100 aircraft. Airbus variants including the A320, A321ceo, A321neo, A321neo ACF, and A330 form the backbone of Vietjet’s operations.
Environmental responsibility is also at the forefront of Vietjet’s strategy. The airline has set an ambitious goal of achieving net-zero emissions by 2050, demonstrating its dedication to sustainable aviation practices.
As Vietjet expands its reach and fleet size, passengers can look forward to an even wider array of travel options. The combination of new aircraft and a commitment to excellence promises to elevate the flying experience for millions of travelers across Asia and beyond.
As the airline continues to grow, it remains focused on its core mission: connecting people, cultures, and economies through safe, affordable, and enjoyable air travel.
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