Business

Fleet expansion and strategic shifts: Flying towards a green, high-growth future

Contracts for new aircraft and engines mark the second strategic turning point for Vietnam's civil aviation, following the initial market liberalisation.

Trang Nhung/VNA
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Aircraft of Vietnamese carriers at Noi Bai International Airport. (Photo: PV/Vietnam+)

Hanoi (VNA) - During the Lunar New Year holiday, Vietnam's civil aviation set new records for passenger volume and flight operations. In the opening days of the new lunar year, Vietnamese airlines signed massive deals with Boeing and Pratt & Whitney totalling tens of billions of USD.

Uong Viet Dung, Director General of the Civil Aviation Authority of Vietnam (CAAV), described these results as a vital boost and strategic milestone for the industry's development.

Ready for a new growth cycle

Witnessed by Party General Secretary To Lam during his mission to the United States to attend the Peace Council, Vietnamese carriers inked deals worth nearly 32 billion USD for approximately 96 aircraft.

Vietnam Airlines signed for 50 Boeing 737-8s valued at 8.1 billion USD, with plans for 30 additional wide-body jets worth over 12 billion USD. Sun PhuQuoc Airways ordered 40 Boeing 787-9 Dreamliners for 22.5 billion USD, while Vietjet secured six Boeing 737-8s for 965 million USD.

Additionally, Vietjet signed a 5.4 billion USD contract with Pratt & Whitney for engines and maintenance services for 44 A321neo/A321XLR aircraft.

Dang Ngoc Hoa,Vietnam Airlines’ Chairman of the Board of Director, stated the carrier is preparing comprehensive resources, from fleet and finance to high-quality personnel, to embrace a new growth cycle.

Vietjet CEO Nguyen Thanh Son affirmed these orders represent a commitment to international cooperation and fleet modernisation, providing a foundation for long-term growth and enhanced operational quality.

Sun Group Chairman Dang Minh Truong noted that Sun PhuQuoc Airways' investment in advanced wide-body jets aims to establish an "air bridge" connecting Phu Quoc with the world.

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Passengers checking in at Noi Bai International Airport. (Photo: Vietnam+)

Uong Viet Dung (CAAV) stated these contracts drive growth and fleet restructuring, aligning with the national airport development master plan through 2030, with a vision to 2050.

The orders foster an "airport city-logistics-tourism" ecosystem, with wide-body jets supporting international transit, aviation logistics, and cross-border e-commerce.

The new aircraft technology will significantly reduce fuel consumption, emissions, and noise levels, supporting ICAO’s Net Zero 2050 goals and facilitating route expansions to the US and Europe.

Furthermore, engine deals create opportunities for maintenance hubs in Long Thanh, Gia Binh, Van Don, and Chu Lai, integrating Vietnam into global supply chains and promoting technology transfer.

A strategic turning point

Mr Dung viewed these multi-billion-dollar deals as a trade-investment pillar, deepening Vietnam-US bilateral relations in safety, technology, and training.

Regarding state management, the CAAV will prioritise financial risk oversight, monitoring airline equity, debt ratios, and cash flows for these large-scale orders.

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Vietnam Airlines invests in technology and international-standard training. (Photo: Vietnam+)

The CAAV head concluded that these contracts establish three foundations for the next 30 years: green growth, ICAO-standard safety, and enhanced national status, making double-digit growth highly feasible./.

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Trang Nhung/VNA
#Contracts #new aircraft #Vietnam's civil aviation #market liberalisation #Noi Bai International Airport #Vietnam Airlines #Vietjet Air #Bamboo Airways
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