Vietjet and Castlelake, a global alternative investment manager specialising in asset-based investing with nearly 20 years of experience in aircraft investment, leasing, and servicing, have exchanged a Memorandum of Understanding (MOU) to finance the airline’s four aircraft valued at US$560 million (approx. RM2.37 billion). The event took place during the Vietnam-Ireland Business Forum in Dublin in the presence of Vietnam’s General Secretary and State President To Lam.
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 are scheduled for delivery within 2024. This arrangement follows a financing agreement completed in 2023 for three Airbus A321neo aircraft and serves as a foundation for future cooperation on financing agreements to support Vietjet’s rapidly growing fleet.
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 are scheduled for delivery within 2024. This arrangement follows a financing agreement completed in 2023 for three Airbus A321neo aircraft and serves as a foundation for future cooperation on financing agreements to support Vietjet’s rapidly growing fleet.
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“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 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 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 of first-time flyers.
With the addition of new aircraft, Vietjet is set to expand its network both domestically and internationally, adding new destinations in Malaysia and beyond. The airline’s daily service between Kuala Lumpur and Ho Chi Minh City offers Malaysian travellers a convenient, cost-effective gateway to one of Vietnam’s most vibrant cities. Vietjet’s professional and dedicated crew ensures a consistently excellent flying experience for passengers.
Founded in 2005, Castlelake has directly or indirectly invested in more than 650 aircraft of various types and has developed relationships with approximately 200 airlines spanning more than 60 countries worldwide.
