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Vietnamese low-cost airline Vietjet recently signed more than US$6.3 million worth of agreements with Pratt & Whitney and Griffin Global Asset Management to accelerate its fleet expansion
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The $5.4 billion agreement with P&W is for the selection of geared turbo fan engines, and comprehensive maintenance services for 44 Airbus A321NEO and A321XLR aircraft
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The aircraft financing agreement with Griffin Global will cover six Boeing 737-8 aircraft, valued at approximately $965 million at list prices
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As Vietjet continues to expand its international network, it said “the strengthened fleet and financing capacity also support growth in high-demand Asia-Pacific markets, including the Philippines–Vietnam corridor”
Vietnamese low-cost airline Vietjet recently signed more than US$6.3 million worth of agreements with Pratt & Whitney (P&W) and Griffin Global Asset Management to accelerate its fleet expansion.
Vietjet and P&W – a U.S. aerospace manufacturer that designs, manufactures and services aircraft engines and auxiliary power units – signed an agreement for the selection of P&W geared turbo fan (GTFTM) engines, and comprehensive maintenance services for 44 Airbus A321NEO and A321XLR aircraft.
The total estimated value of the contract is approximately $5.4 billion, Vietjet said in a statement.
P&W will provide new-generation engines to optimize operational performance, reduce operating costs, and lower emissions, supporting Vietjet’s sustainable development and green transition strategy.
Vietjet also signed an aircraft financing agreement with Griffin Global to finance six Boeing 737-8 aircraft, valued at approximately $965 million at list prices.
The two agreements were signed in a ceremony that took place in the presence of Vietnam’s General Secretary To Lam, alongside senior Vietnamese and U.S. government officials in Washington, D.C., where To Lam attended the opening session of the United States-led Board of Peace on February 19.
Vietjet said the event was held amid continued momentum in Vietnam–U.S. relations, particularly across the economic, financial, and technology sectors.
The airline said the agreements mark a significant step in its strategy to diversify international funding sources while strengthening its financial capacity and capital structure in line with global standards.
It added that the agreements carry importance beyond their commercial impact as they “support deeper collaboration in technology and finance, contribute to job creation, and strengthen value chain integration between the two economies.”
As Vietjet continues to expand its international network, it said “the strengthened fleet and financing capacity also support growth in high-demand Asia-Pacific markets, including the Philippines–Vietnam corridor”.
The airline currently operates daily direct flights between Manila and Ho Chi Minh City.
READ: Vietjet enters PH market with Manila-Ho Chi Minh flights
Vietjet managing director Nguyen Thanh Son said: “These agreements in the United States reflect Vietjet’s strong commitment to expanding the scale of international partnerships and developing a modern, sustainable fleet. They provide a solid foundation to enhance our financial strength, elevate operational standards, and support long-term growth for the aviation industry in Vietnam and globally.”
The airline currently operates 135 aircraft and has nearly 600 additional aircraft on order, including both wide-body and narrow-body aircraft.
