Vietjet, a popular Vietnamese low-cost carrier, and the aircraft leasing company Castlelake have inked a groundbreaking deal by signing a Memorandum of Understanding to finance the acquisition of four brand-new Airbus A321neo aircraft worth an impressive US$560 million. This exciting partnership was formally announced during the recent Vietnam-Ireland bilateral talks held in the vibrant city of Dublin from October 1-3, 2024.

Under the terms of the MoU, Castlelake, a reputable investment manager based in Dublin and known for its expertise in asset-based investing, will be providing the necessary financing for the four Airbus A321neo aircraft that are part of Vietjet’s existing order with Airbus. The delivery of these state-of-the-art aircraft is anticipated to take place within this year, particularly in 2024. This agreement builds upon a prior successful financing deal completed in 2023 for three Airbus A321neo aircraft and sets the stage for future collaborative efforts on financing deals related to Vietjet’s expanding fleet.

Chris Buckley, the Partner and Aviation Chief Commercial Officer at Castlelake, shared his enthusiasm by stating, "Castlelake is delighted to further strengthen our partnership with Vietjet and to contribute to their mission of delivering exceptional aviation services through our innovative finance leasing solutions."

Dinh Viet Phuong, the dedicated Chief Executive Officer of Vietjet, expressed his optimism regarding the agreement by affirming, “Today’s signed agreement perfectly aligns with Vietjet’s strategic vision aimed at broadening its fleet and global flight network. With the invaluable support of international financing, Vietjet remains committed to offering secure, cozy, and affordable air travel aboard modern and new aircraft, connecting passengers to thrilling destinations worldwide. Our top-notch services not only enrich tourism experiences but also foster economic development and facilitate cultural exchanges across various nations and continents.”

In a significant development earlier in July 2024 at the renowned Farnborough International Air Show, Vietjet and Airbus made global headlines by finalizing an impressive $7.4 billion purchase agreement for a fleet of 20 A330-900 jets. This monumental sale was initially revealed during a pivotal signing ceremony at the prestigious Singapore Airshow in February 2024, when both companies first entered into a MoU.

This monumental deal marks Vietjet’s initial venture into widebody aircraft orders and operations, signaling a bold and strategic move in its continued expansion and evolution within the aviation industry.

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