Saturday, October 21 2017

VietNamNews

Vietjet seals deal worth $4.76 billion with US partners

Update: June, 01/2017 - 16:30
Vietjet’s president and CEO Nguyễn Thị Phương Thảo and president and CEO of CFM International Gael Meheust at the signing ceremony. - VNS Photo
Viet Nam News

WASHINGTON – Budget carrier Vietjet purchased 215 engines from CFM International -- a joint venture between GE and Safran -- following a US$3.58 billion agreement inked between the two sides on Wednesday in Washington DC.

The signing ceremony was witnessed by Việt Nam’s Prime Minister Nguyễn Xuân Phúc and US Secretary of Commerce Wilbur Ross.

The 12-year agreement also includes other technical services, engines and components maintenance, Vietjet said in its statement.

We are orienting our fleet to aircraft families and engines which are of efficient fuel consumption and environment friendly. The engines under today’s agreement will help us save up to 15 per cent of fuel consumption and obtain other comprehensive services in technical support, maintenance and training,” Vietjet’s president and CEO Nguyễn Thị Phương Thảo said.

Thảo said she believed this agreement would promote economic and trade exchange and create millions of jobs in the two countries.

“We appreciate the high level of confidence this agreement shows in CFM and in our ability to support Vietjet over the long term,” president and CEO of CFM International Gael Meheust said.

On this occasion, Vietjet and GECAS under GE signed a Memorandum of Understanding (MoU) on aircraft financing valued at $1 billion. Under the MoU, GECAS will support Vietjet to finance or purchase and enter into a leaseback arrangement of 10 aircraft ordered by Vietjet.

The airline also sealed another agreement on auxiliary power unit supply and technical maintenance to power the airline’s 98 airplanes with Honeywell Aviation. The $180 million deal will ensure Vietjet’s fleet be maintained according to leading international standards. — VNS

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