Vietjet signs agreement with Japan finance corporation

September 16, 2015 | 09:35

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Vietjet and Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG), have signed a memorandum of understanding (MOU) in Tokyo on the sidelines of the official visit of His Excellency Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam, to Japan.

Japan’s Prime Minister Shinzo Abe and General Secretary Nguyen Phu Trong witnessed the signing of the memorandum of understanding (MOU), which will pave the way for MUL to finance Vietjet’s leasing and acquisition of three brand new A321 aircraft, worth $347.2 million, according to the manufacturer’s listed price.

These three aircraft are part of a contract signed earlier between Vietjet and European aircraft manufacturer Airbus to purchase and/ or lease a total of 107 aicraft in coming years.

As planned, Vietjet will receive from 10 to 12 new aircraft every year until the above contract with Airbus is complete. The airline has so far taken delivery of eight A321s and A320s. Under the terms of the memorandum of understanding, Mitsubishi and Vietjet will also work together to share best practices in airlines operation and management.

Mitsubishi UFJ Lease & Finance Company Limited has a wide business base with 23 offices and 26 group companies in Japan. Overseas, it has a total of 18 business bases in seven countries. The company is accelerating overseas business through consecutive M&A. Its total operating assets reached 4.5 trillion yen at the end of last fiscal year. MUL has the competitive edge on global assets businesses, such as aircraft and aircraft engine leasing, medical and long-term care businesses and eco-related businesses.

By By Duc Hanh

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