VietJet Air seals deal with Japanese financial firm

Illustrative image (Source: Vietjet Air)

Under the deal, the Mitsubishi UFJ Lease & Finance Company Ltd will provide 347.2 million USD for VietJet Air to secure three new Airbus A321, which are part of 107 aircraft from the carrier’s purchase-and-lease transactions with producer Airbus.

Apart from that, the two sides will stimulate bilateral engagement in aviation operation and management.

VietJet Air is daily operating 180 flights on 33 routes to and from domestic and international destinations, such as Singapore, the Republic of Korea, China, Chinese Taiwan, Thailand and Myanmar.

It has thus far received eight aircraft from the Airbus deal, increasing the total number of modern planes in its fleet to 26 including A320 and A321 generations.

According to statistics from the Civil Aviation Administration of Vietnam, Vietjet Air contributed 70 percent to the Vietnamese air transport growth of 26 percent in the first six months of 2015.

It has helped popularise images of a proactive and modern Vietnam to international friends, paving the way to develop tourism and draw more investments to the country.

As a member of the Mitsubishi UFJ Lease & Finance Group, VietJet Air’s new partner Mitsubishi UFJ Lease & Finance Company Ltd has 26 branches and 23 representative offices within Japan as well as 18 headquarters in seven foreign countries.

The company’s assets were worth 4.5 trillion JPY (376.2 billion USD) in 2014.-VNA