Vietjet and AV AirFinance sign $300 million cooperation agreement to develop fleet, raising total turnover with the US to $64 billion

(Chinhphu.vn) - Vietjet Air and AV AirFinance have just signed a cooperation agreement worth a total of 300 million USD, witnessed by Vietnamese Deputy Prime Minister Ho Duc Phoc, within the framework of a working trip to promote bilateral economic and trade relations between Vietnam and the US.

Vietjet Deputy General Director To Viet Thang (left) and AV AirFinance CEO Stephen Murphy (right) signed a cooperation agreement worth a total of 300 million USD to develop the fleet - Photo: VGP

The AV AirFinance deal is part of a series of $4 billion in financing deals that Vietjet has made with leading US partners. The deals support its new fleet development plan, including nearly 300 aircraft expected to be delivered in the 2025–2027 period.

Mr. Stephen Murphy, CEO of AV AirFinance said: "We are very proud to become a long-term strategic partner of Vietjet. With this agreement, we strongly believe and commit to accompany Vietjet's sustainable growth journey in the Asia- Pacific region with a modern new-generation fleet."

Vietjet and AV AirFinance leaders Stephen Murphy signed a cooperation agreement to develop the fleet, witnessed by Deputy Prime Minister Ho Duc Phoc - Photo: VGP

In 2025, Vietjet will begin receiving the first Boeing 737 Max aircraft in an order of 200 aircraft worth more than 24 billion USD announced under the witness of US President Donald Trump in Vietnam on February 27, 2019. The airline is also in the process of negotiating to expand this order, serving its global development strategy.

In addition to Boeing, Vietjet has strategic partnerships with many leading US corporations such as GE, Pratt & Whitney and Honeywell with a total contract value of nearly 50 billion USD, along with projects under deep negotiation worth about 14 billion USD. The engine and technical services sector alone with GE and Pratt & Whitney has reached a scale of more than 10 billion USD. In addition, Vietjet is also expanding technology cooperation with corporations such as Microsoft, Apple, Google, and negotiating with SpaceX to develop technology services on the entire fleet. These contracts in the near future will contribute to significantly reducing the trade gap between Vietnam and the US.

The signing ceremony was witnessed by Deputy Prime Minister Ho Duc Phoc and senior Vietnamese leaders, within the framework of a working trip to promote bilateral economic and trade relations between Vietnam and the US. Photo: VGP

With a strategy of developing a modern fleet and global flight network, Vietjet Air is operating more than 115 new generation, fuel-efficient aircraft, and has ordered more than 400 more.

AV AirFinance is part of the US investment group KKR, specializing in providing commercial aircraft financing solutions to airlines, aircraft leasing companies, cargo carriers and investors.

Vietjet's strategic steps and global cooperation in international integration help this airline become a cultural, economic and technological bridge between Vietnam and the world, balancing the trade balance, especially with the United States./.

Source: https://baochinhphu.vn/vietjet-va-av-airfinance-ky-ket-hop-tac-300-trieu-usd-phat-trien-doi-bay-tong-kim-ngach-voi-hoa-ky-len-toi-64-ti-usd-102250410093549149.htm