Vietjet Finalize Vietnam’s Largest Ever Commercial Airplane Purchase from Boeing

HANOI, Vietnam, May 23, 2016 – At 11:40am in the Presidential Palace in Hanoi, VietJet – New age carrier and Boeing [NYSE: BA] have finalized an order for 100 737 MAX 200 airplanes, the largest ever single commercial airplane purchase in Vietnam aviation. Tran Dai Quang, President of Vietnam and U.S. President Barack Obama and both countries’ government leaders delegation witnessed the historic agreement signed by Vietjet President and CEO Nguyen Thi Phuong Thao and Boeing Commercial Airplanes President and CEO Ray Conner. The agreement valued at approximately $11.3 billion.

“Boeing is proud to again play an integral role in advancing Vietnam’s aviation industry. We’re honored to be joined by Prime Minister Nguyen Xuan Phuc and President Obama for this historic milestone and order of 100 737 MAX airplanes,” said Conner. “Incorporating the latest design and technology features, the highly efficient 737 MAX will provide Vietjet’s growing network with market-leading economics, a superior passenger experience and contribute significantly to their future success.” - Mr Ray Conner shared in the event.

The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The new single-aisle airplane will deliver 20 percent lower fuel use than the first Next-Generation 737s.

At the signing ceremony, The President & CEO of Vietjet Nguyen Thi Phuong Thao ‎shared: "Vietjet is efficiently operating a fleet of narrow body airplanes. Our investment in a fleet of B737 Max 200 will accommodate our strategy of growing Vietjet's coming international route network including long haul flights. Through this Agreement, Vietjet will contribute increasing bilateral trade turnover between Vietnam and the United States, as well as contributes in the integration and development of the aviation industry in Vietnam.‎”

The airplanes in this purchase will be delivered to Vietjet from 2019 until 2023 for supporting Vietjet to continuousely extend the domestic network as well as international network in the region. This agreement helps Vietjet to increase the fleet to more than 200 aircrafts in the end 2023 with the most modern and advanced technology in the world.