Vietjet strikes deal with Japan finance firm

Vietjet Aviation Joint Stock Co. (Vietjet) and Mitsubishi UFJ Lease & Finance Company Limited signed a memorandum of understanding (MOU) on cooperation in Tokyo on September 15 during Vietnamese General Secretary Nguyen Phu Trong’s official visit to the northeast Asian country.
Vietjet said in a statement that Japan’s Prime Minister Shinzo Abe and the Vietnamese Party chief witnessed the signing of the MOU. The deal will pave the way for the Japanese company to finance the Vietnamese airline’s leasing and acquisition of three new Airbus A321 aircraft worth a total of US$347.2 million according to the manufacturer’s listed price.
These three aircraft are part of a contract signed earlier between Vietjet and European aircraft manufacturer Airbus to purchase and lease a total of 107 aicraft in the coming years.
Vietjet plans to take delivery of 10 to 12 new aircraft every year until the contract with Airbus is completed. The airline has so far got eight A321s and A320s.
As part of the MOU, Vietjet will share practices in airlines operation and management with the affiliate of Japan’s leading finance group Mitsubishi UFJ Financial Group.
Vietjet took to the skies in December 2011 and has transported more than 15 million passengers to date. It currently operates a fleet of 27 aircraft, including A320s and A321s for 180 daily flights on 33 domestic and international routes linking destinations such as Thailand, Singapore, South Korea, Taiwan, China and Myanmar.
The airline will continue expanding its network across the region and signed agreements with global aircraft manufacturers to purchase more modern aircraft to support its strong expansion.