Vietjet boosts equipment purchase and financing for new aircraft

MOU signed with Honeywell Aerospace and JPMorgan Chase

(Washington D.C., July 8, 2015) – Today in Washington D.C. Vietjet has signed a memorandum of understanding (MOU) with Honeywell Aerospace to select Honeywell’s APU and Avionics as a source for Vietjet’s future fleet valued at US$56 million. Mr. Dinh Viet Phuong, Vice President of Vietjet and Mr. Briand Greer, President, Honeywell Aerospace Asia Pacific both signed the MOU in the presence of His Excellency Mr. Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam, in his first official visit to the US to celebrate the 20th anniversary of the normalization of the US-Vietnam relations.

Under the terms of the agreement, the MOU calls for both parties to explore more opportunities for Vietjet to select and install Honeywell’s APU and avionics suite for its new aircraft to be delivered from now until 2017. Last year, Vietjet selected Honeywell to supply, manage and maintain the 131-9A APU for the airline’s new fleet of 21 A320/A321 aircraft.

In addition, the world-leading aerospace company will provide training and insight to Vietjet on the Honeywell Operating System, which is one of company’s key enablers and built on the foundation of Six Sigma to drive productivity improvement. The two parties will also work closely to exchange best practices and knowledge in airline operation and management as well as the latest aerospace technologies.

“We are delighted to sign this MOU and look forward to deepening the relationship with and partnering Vietjet to meet their long term goals by sharing best practices and providing training. As a leading global aerospace company with the broadest portfolio in the industry, Honeywell is well placed to offer unique products and solutions to Vietjet, helping them operate more safely, efficiently and reliably,” said Mr. Briand Greer.

During the General Secretary Nguyen Phu Trong’s visit to the US, VietJet has also inked an MOU with JPMorgan Chase in order to pave the way for the US bank to advise and arrange financing in ECA (Export Credit Agency) supported aircraft purchase and lease for Vietjet’s current and future contracts. Mr. Dinh Viet Phuong and Mr. John Meakin, Managing Director, Global Head of ECA aircraft financing of JPMorgan Chase have entered into this landmark MOU in the witness of the General Secretary.

“We are delighted to become a strategic partner of VietJet to assist the company in achieving its long term growth objectives,” said Mr. John Meakin. “JPMorgan’s strong track record in ECA financing, coupled with its extensive global network and resources, puts us in a strong position to support Vietjet’s airline fleets and international routes expansion”.

JPMorgan Chase & Co. is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.