Vietjet inks strategic aircraft financing agreement with German Operating Aircraft Leasing

Vietjet and German Operating Aircraft Leasing GmbH & Co. KG (GOAL), a joint venture of KGAL GmbH & Co. KG (KGAL) and Deutsche Lufthansa AG, today signed a strategic agreement paving the way for GOAL to finance Vietjet’s acquisition of four brand new A321 aircraft, worth US$464 million, according to the manufacturer’s listed price.

Vietjet President & CEO Nguyen Thi Phuong Thao, Vietjet Vice President Dinh Viet Phuong, KGAL CEO Gert Waltenbauer and GOAL Managing Director Jochen Baltes represented both parties in signing the contract in the witness of the Vietnamese Prime Minister Nguyen Xuan Phuc and high-ranking dignitaries from Vietnam and Germany.

The acquisition of the four aircraft is part of the A320 family aircraft contract signed earlier between Vietjet and European aircraft manufacturer Airbus. Vietjet will receive the four aircraft within 2017 to meet expansion plans for the airline’s domestic and international flight network.

Speaking at the signing ceremony, GOAL Managing Director Jochen Baltes said: “GOAL and KGAL are very excited about the purchase and leaseback of these four aircraft with one of the world’s most dynamic low-cost airlines. Following this agreement, all parties will continue to work and cooperate together on more opportunities in aviation development in the coming time.”

Vietjet President & CEO Nguyen Thi Phuong Thao commented: “We have received 16 new A321 aircraft from Hamburg, Germany, worth nearly US$2 billion in accordance with the manufacturer’s listed price, including Airbus’ 9,000th A320 aircraft, which created great excitement in Europe. Besides the fact that Germany has provided Vietjet with aircraft, we are truly delighted to work with GOAL, one of Germany’s top aircraft finance and aviation companies. Today’s deal ensures the financing and favorable conditions for Vietjet to further develop its modern fleet, thus helping to enforce the airline’s quality and safety in operations, a key part of our strategy for the long-term development of Vietjet.”