Leadership representatives of Vietjet (right) and Castlelake (left) exchange the MOU to finance four Airbus aircraft in the presence of Việt Nam's General Secretary and State President Tô Lâm (center) in Dublin, Ireland. — Photo courtesy of Vietjet

DUBLIN — Vietjet and Castlelake have signed a Memorandum of Understanding (MOU) to finance four aircraft valued at US$560 million.

The event took place in the presence of Việt Nam's General Secretary and State President Tô Lâm at the Việt Nam-Ireland Business Forum on Thursday.

As part of the MOU, Castlelake, a global alternative investment manager specialising in asset-based investing, will provide financing for four new Airbus A321neo aircraft under Vietjet’s existing order with Airbus.

The aircraft will be delivered by the end of the year. The anticipated transaction follows a financing agreement that was completed in 2023 for three Airbus A321neo aircraft and lays a foundation for future cooperation on financing agreements related to Vietjet’s rapidly growing fleet.

Chris Buckley, Partner and Aviation Chief Commercial Officer at Castlelake, said: “Castlelake is pleased to support Vietjet’s mission to provide exceptional aviation service through our finance leasing solutions."

“We look forward to pursuing this transaction and exploring more opportunities to grow the business with Vietjet in the future,” he said.

Vietjet Chief Executive Officer Đinh Việt Phương said the agreement aligns with Vietjet's strategy to expand its fleet and global flight network.

"Backed by international financing, Vietjet continues to provide safe, comfortable and cost-effective flights on modern aircraft, connecting travellers to exciting global destinations. Our services not only enhance tourism but also drive economic growth and foster cultural exchange among countries and continents,” he said.

Vietjet currently operates a fleet of over 100 aircraft. The airline is committed to environmental protection and fuel efficiency, with a goal of achieving net-zero emissions by 2050. It has transported over 200 million passengers, including millions flying for the first time.

With the new aircraft, Vietjet will further expand its network both in Việt Nam and internationally, adding new destinations in Australia, India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Malaysia, Laos and Cambodia.

Founded in 2005, Castlelake has invested directly or indirectly in more than 650 aircraft of various types and has developed relationships with approximately 200 airlines spanning more than 60 countries around the globe. — VNS