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Thu, 28 Feb 2019

Vietjet Signs US$18 Billion Deal with Boeing and General Electric

Vietjet signed a deal for 100 new Boeing 737 MAX airplanes on Wednesday, increasing the airline’s order with Boeing to 200 airplanes. The new order is valued at US$12.7 billion at current list prices.

During the same ceremony, Vietjet and General Electric signed a long-term Engine Support Agreement valued at US$5.3 billion to equip Vietjet aircraft with LEAP-1B engines.

Vietjet President and CEO Nguyen Thi Phuong Thao and Boeing Commercial Airplanes President & CEO Kevin McAllister co-signed the airplane purchase deal, with Vietnam Communist Party General Secretary and President Nguyen Phu Trong and United States President Donald Trump as witnesses.

Vietjet President and CEO Nguyen Thi Phuong Thao and Boeing Commercial Airplanes President & CEO Kevin McAllister co-signed the airplane purchase deal, with Vietnam Communist Party General Secretary and President Nguyen Phu Trong and United States President Donald Trump as witnesses. Click to enlarge.

 Boeing Commercial Airplanes President & CEO Kevin McAllister said, “we are pleased to expand our partnership with Vietjet and to support their impressive growth with new, advanced airplanes such as the 737 MAX. We are confident the MAX will help Vietjet grow more efficiently and provide great travel experiences for their passengers. The economic expansion in Hanoi and across Vietnam is impressive. Vietjet and the country’s burgeoning aviation sector are enablers, helping to stimulate travel within Vietnam and connecting Vietnam with the rest of Asia. We are proud to support this economic development, which in turn supports engineering and manufacturing jobs in the United States.”

Earlier in 2016, Vietjet signed a 100 B737 MAX order, setting the mark for the largest commercial jet purchase within Vietnam’s aviation sector at the time and making the airline the largest purchaser of the B737 MAX model in Asia.

Highlighting Vietjet’s rapid growth, President and CEO Nguyen Thi Phuong Thao said, “The deal for 100 new airplanes and other agreements for 200 B737 MAX airplanes today is important moves for us to meet our international flight network expansion plans with a higher capacity, offering our passengers exciting opportunities to fly to new international destinations. This contract signing ceremony, witnessed by the top leaders of Vietnam and the US on the occasion of the US-North Korea Summit in Hanoi, will mark a milestone for the two companies’ growth.”

In addition to the aircraft purchases, Boeing will support Vietjet in enhancing technical and engineering expertise, training pilots and technicians to improve management capabilities at the airline.

Vietjet’s new partnership with General Electric also complements the deal with technical support and spare engines to maintain the airline’s new aircrafts.

The total value of the signed deals between Vietjet and the US companies is expected to reach US$18 billion.

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