Vietjet inks strategic aircraft financing agreement with Mitsubishi UFJ Financial Group

(Tokyo, June 5, 2017) – Today in Tokyo, Vietjet and Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG), signed a strategic agreement as witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and Japan’s Prime Minister Shinzo Abe. The agreement will pave the way for MUL to finance Vietjet’s acquisition of three brand new A321 aircraft, worth US$348 million, according to the manufacturer’s listed price.

The three aircraft are part of the A320 family aircraft contract signed earlier between Vietjet and European aircraft manufacturer Airbus. Vietjet will receive the aircraft within this year to meet expansion plans for the airline’s domestic and international flight network. The airline has so far taken delivery of more than 20 brand 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, in the U.S., Vietjet also signed a series of deals worth a total of US$4.7 billion for engines and components maintenance support and its techical services, auxiliary power unit (APU) supply and APU technical maintenance and aircraft financing and/or purchasing.