Vietjet and Castlelake reach MOU for four Airbus aircraft valued at US$560 million

(Dublin, Ireland, October 3, 2024) – Vietjet and Castlelake, a global alternative investment manager specializing in asset-based investing with nearly 20 years of experience in aircraft investing, leasing and servicing, today exchanged a Memorandum of Understanding (MOU) to finance four aircraft valued at US$560 million. The event took place in the presence of Vietnam’s General Secretary and State President To Lam at the Vietnam-Ireland Business Forum.

As part of the MOU, Castlelake intends to provide financing for four new, modern Airbus A321neo aircraft under Vietjet’s existing order with Airbus. These aircraft will be delivered within 2024. 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.

“Castlelake is pleased continue building its relationship with Vietjet and to support Vietjet’s mission to provide exceptional aviation service through our finance leasing solutions,” said Chris Buckley, Partner and Aviation Chief Commercial Officer at Castlelake. “We look forward to pursuing this transaction and exploring more opportunities to grow the business with Vietjet in the future.”

Vietjet Chief Executive Officer Dinh Viet Phuong said: “The agreement signed today 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 new, modern aircraft, connecting travelers to exciting global destinations. Our services not only enhance tourism but also drive economic growth and foster cultural exchange among countries and continents.”

Vietjet currently operates a fleet of over 100 aircraft, including the most advanced, fuel-efficient and safest generations of aircraft in the world, such as the A320, A321ceo, A321neo - A321neo ACF, and A330. The airline is committed to environmental protection and fuel efficiency, with a goal of achieving net-zero emissions by 2050. Vietjet 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 Vietnam and internationally, adding new destinations in Australia, India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Malaysia, Laos, Cambodia, and beyond. Coupled with the airline’s professional and dedicated crews, this addition is expected to meet travelers’ demand, offering excellent flying experiences on happy flights. 

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.