Vietnam’s General Secretary To Lam Witnesses Vietjet’s Launch of Singapore-Phu Quoc Route and US$300 Million Aircraft Financing Agreement

(Singapore, 11 March 2025) – During Vietnam’s General Secretary To Lam’s official visit to Singapore, Vietjet announced the launch of a new direct route connecting Singapore and Phu Quoc, alongside the signing of a US$300 million aircraft financing agreement with Carlyle Aviation Partners. This milestone strengthens Vietnam-Singapore connectivity and fosters sustainable development between the two nations.

A New Air Bridge: Singapore-Phu Quoc Route

Launching on 30 May 2025, the new Singapore-Phu Quoc route will bring Vietjet’s total number of weekly flights between Vietnam and Singapore to 78. This addition marks Vietjet’s fourth route to Singapore, complementing its existing services from Ho Chi Minh City, Hanoi, and Da Nang.

With this growing network, the airline expects to serve over 500,000 passengers annually between the two countries.

Since introducing its Singapore-Ho Chi Minh City route in 2014, Vietjet has operated over 16,000 flights, transporting more than 2.6 million passengers between the two countries. The new Singapore-Phu Quoc route is set to boost tourism and strengthen economic, trade, and cultural ties.

US$300 Million Aircraft Financing Agreement

Vietjet and Carlyle Aviation Partners have signed a US$300 million financing agreement to support the delivery of new aircraft in 2025-2026. This deal is a key step in Vietjet’s strategy to expand its modern fleet, which includes over 400 aircraft on order.

“We are proud to be a long-term strategic partner of Vietjet, supporting its international growth and commitment to providing affordable, convenient travel options,” said Alexander Rasnavad, President of Carlyle Aviation Partners.

Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle's Global Credit business, with US$192 billion in assets under management as of December 31, 2024. It is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the aviation sector. As of December 31, 2024, it manages over 360 aircraft across 53 countries and has a team of more than 125 employees and offices in the US, Ireland and Singapore.

Integrated Material Services for modern Airbus fleet

Vietjet and Satair, an Airbus Services company, have signed a multi-year agreement for Satair’s Integrated Material Services (IMS) to support Vietjet’s entire Airbus A320 and A330 fleet. Under this exclusive agreement, Satair will provide consignment stock and pooling support for expendables to optimize the airline’s operational costs. Satair’s IMS offering is an end-to-end supply chain solution that includes planning, logistics, and inventory management, enabling Vietjet to maintain efficiency and operational readiness.

Paul Lochab, Chief Commercial Officer of Satair, said: “Our IMS collaboration empowers airlines like Vietjet, with the confidence that they’ve got the right support behind them. IMS allows maintenance and engineering teams to concentrate on critical aspects of their operations.”

Vietjet: Connecting the World

Dr. Nguyen Thi Phuong Thao, Chairwoman of Vietjet, stated: “Vietjet is more than an airline—it is a driver of economic trade, investment, education, and cultural exchange.”

Operating over 115 aircraft and having served more than 230 million passengers, Vietjet continues its commitment to sustainable development and cultural cooperation. As Singapore remains Vietnam’s largest investor with US$84.5 billion in investments, Vietjet’s partnerships with Singaporean firms contribute billions of dollars annually, fostering financial, trade, and innovation-driven collaboration for a sustainable future.