Vietjet and AV AirFinance Sign $300 Million Deal to Expand Fleet, Total Trade Volume with the US Reaches $64 Billion

On April 9, in Washington, D.C., Vietjet Airlines and AV AirFinance signed a cooperation agreement worth a total of $300 million. This event was witnessed by Deputy Prime Minister Ho Duc Phoc and other high-ranking Vietnamese officials during their visit to strengthen economic and trade relations between Vietnam and the United States.

This agreement with AV AirFinance is part of a series of financial deals totaling $4 billion that Vietjet has secured with leading U.S. partners. These deals support the airline’s plan to develop a new fleet, including nearly 300 aircraft expected to be delivered between 2025 and 2027.

“We are proud to be a long-term strategic partner of Vietjet,” said Stephen Murphy, CEO of AV AirFinance. “With this agreement, we strongly believe in and are committed to accompanying Vietjet’s sustainable growth journey in the Asia-Pacific region with its modern next-generation fleet.”

In 2025, Vietjet will start receiving the first Boeing 737 Max aircraft from an order of 200 planes worth over $24 billion. This order was announced in the presence of U.S. President Donald Trump during his visit to Vietnam in February 2019. The airline is also in negotiations to expand this order to support its global expansion strategy.

In addition to Boeing, Vietjet has strategic partnerships with other leading U.S. corporations such as GE, Pratt & Whitney, and Honeywell, with contract values totaling nearly $50 billion. The scope of the engine and technical services agreements with GE and Pratt & Whitney alone exceeds $10 billion. Vietjet is also expanding its technology collaborations with companies like Microsoft, Apple, and Google and is in negotiations with SpaceX to develop technology services for its entire fleet. These contracts will significantly contribute to narrowing the trade gap between Vietnam and the U.S. in the near future.

With its strategy to develop a modern fleet and global network, Vietjet currently operates over 115 fuel-efficient, next-generation aircraft and has placed orders for more than 400 additional planes.

AV AirFinance, a subsidiary of the U.S. investment firm KKR, specializes in providing commercial aircraft financing solutions to airlines, leasing companies, cargo operators, and investors.

“I congratulate this event and emphasize that I will always strive and work hard with global partnerships to contribute to cultural, economic, and technological collaborations between Vietnam, the U.S., and the world,” said Dr. Nguyen Thi Phuong Thao, President of Vietjet Airlines.