Tuesday, May 26, 2020

VietJet deal with Mitsubishi unit paves way for acquisition of three new A321s

Jun 05. 2017
Facebook Twitter


VietJet and Mitsubishi UFJ Lease & Finance (MUL) – a member of Japan’s leading finance group, Mitsubishi UFJ Financial Group – on Monday signed a strategic agreement in a ceremony witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and high-ranking dignitaries from Vietnam and Japan. 

The agreement will pave the way for MUL to finance VietJet’s acquisition of three brand-new A321 aircraft, worth US$348 million (Bt11.84 billion) in total, according to plane-maker Airbus’s listed prices.

The three aircraft are part of the A320-family contract signed earlier between VietJet and the European manufacturer. 

The Vietnamese carrier will receive the aircraft within this year to meet expansion plans for its domestic and international flight network. 

The airline has so far taken delivery of more than 20 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, VietJet also signed a series of deals in the US worth a total of $4.7 billion for engines and components maintenance support and the carrier’s technical services, auxiliary power unit (APU) supply and APU technical maintenance, and aircraft financing and/or purchasing.


Photo caption:

VietJet vice president Dinh Viet Phuong, front left, and MUL managing director Naoki Sato exchange the signed agreement financing VietJet’s acquisition of three new A321 aircraft, as witnessed by Vietnam Prime Minister Nguyen Xuan Phuc, back row, fifth left.

Facebook Twitter
More in Business
Editor’s Picks
Top News