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Vietjet signs deals in US

Released at: 16:50, 10/07/2015

Vietjet signs deals in US

Local carrier comes to agreement with Boeing, JPMorgan Chase, and Honeywell Aerospace.

by Doanh Doanh

Vietjet Air and Boeing signed a memorandum of collaboration (MoC) on July 9 at a ceremony at the US Chamber of Commerce in Washington D.C., paving the way for both sides to research and develop future business opportunities.

Mr. Nguyen Thanh Hung, Vice Chairman of Vietjet’s Board of Management, and Mr. Stanley Roth, Vice President, Boeing International Government Relations, signed the landmark collaboration deal in the presence of Party General Secretary Nguyen Phu Trong during his official visit to the US to mark the 20thanniversary of the normalization of relations between the US and Vietnam.

“Boeing is very pleased to start this new partnership with Vietjet and we look forward to working with them as they expand their fleet,” Mr. Roth said during the ceremony.

“Our continuous investment in a new and modern fleet is crucial to Vietjet’s development strategies in the Asia Pacific,” Mr. Hung said. “We are honored and delighted to sign the MoC today, which is expected to bring more business opportunities to both Vietjet and Boeing in the future.”

The MoC calls for both parties to initiate diligent and cooperative efforts to support the goal of expanding Vietjet’s fleet with Boeing commercial jet aircraft and related goods and services. Boeing and Vietjet are also committed to working together in good faith with a view to the potential acquisition of Boeing aircraft, while holding further discussions in areas including but not limited to fleet planning, commercial terms, flight and maintenance training, marketing and branding, and financing.

General Secretary of the Communist Party of Vietnam Nguyen Phu Trong witnessed the MOC signing between Vietjet and Boeing at the US Chamber of Commerce (Washington D.C.)

Vietjet has recorded impressive growth since launching operations in late 2011 and its previous purchase plans for 107 aircraft will not keep up with developing demand. The airline currently operates a fleet of 25 A321 and A320 aircraft and plans to add four more aircraft by the end of 2015. During the recent Paris Air Show 2015 it ordered six more A321 aircraft for delivery during 2017.

Boeing is the world’s largest aerospace company and the leading manufacturer of commercial jetliners and defense, space and security systems. A top US exporter, the company supports airlines and US and allied government customers in 150 countries and more than 10,000 Boeing-built commercial jetliners are in service worldwide. Boeing’s products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

During General Secretary Trong’s visit to the US Vietjet also inked a memorandum of understanding (MoU) with JPMorgan Chase, with the US bank to advise and arrange financing in ECA-supported aircraft purchases and leases for Vietjet’s current and future contracts. 

Mr. Dinh Viet Phuong, Vietjet's Vice President shook hand with Mr. John Meakin, Managing Director, Global Head of ECA aircraft financing of JPMorgan Chase, marking the MOU signing in the witness of General secretary Nguyen Phu Trong

Mr. Dinh Viet Phuong, Vietjet's Vice President and Mr. Briand Greer, President, Honeywell Aerospace Asia Pacific signed the MOU in Washington D.C.

The carrier also signed an MoU with Honeywell Aerospace to select Honeywell’s auxiliary power units (APU) and avionics as a source for Vietjet’s future fleet, valued at $56 million. The MoU calls for both parties to explore opportunities for Vietjet to select and install Honeywell’s APU and avionics suite for its new aircraft delivered from now to 2017.

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