Southeast Asia Information Port News (www.dnyxxg.com) – During the 2026 Singapore Airshow, Vietjet Air announced a series of significant strategic initiatives: participating as a core partner in the newly established Asia-Pacific Aviation Finance Center (AAFH), signing agreements for aircraft engine procurement, maintenance, and financing totaling over US$6.1 billion, and placing an order for 44 new Airbus aircraft equipped with Pratt & Whitney GTF engines. These moves comprehensively strengthen Vietnam's presence in the Asia-Pacific aviation market, enhance connectivity between Vietnam and major regional markets, and provide better cross-border travel and transit services for Lao citizens and tourists.
One of the key highlights of this announcement was the official launch of the Asia-Pacific Aviation Finance Center (AAFH) within the Vietnam International Financial Center (VIFC-HCM) in Ho Chi Minh City. This center focuses on regional aviation finance, leasing, and infrastructure investment, leveraging industry-specific preferential policies, international standard legal frameworks, and multi-currency cross-border financing mechanisms to create a core platform connecting the aviation industry with global capital. Vietjet Air, as a key partner, spearheaded the US$6.1 billion aviation business and early-stage financing transactions, laying a crucial foundation for the establishment of AAFH. According to the plan, the hub is expected to facilitate aviation-related transactions worth approximately US$50 billion by 2035.
At the press conference, Vietjet Air reached several significant cooperation agreements with leading global companies: a purchase and maintenance agreement with Pratt & Whitney for 44 Airbus A320neo family aircraft engines (including 24 A321neo and 20 A321XLR), bringing the airline's total order for GTF-powered aircraft to 137; and an aircraft financing agreement with US asset management company PIMCO to provide financial support for fleet expansion. The newly ordered aircraft will be delivered starting in July 2026, and Pratt & Whitney will provide full maintenance through a 12-year EngineWise® end-to-end service agreement.
As a long-term user of GTF engines, Vietjet Air currently operates a fleet of 42 aircraft equipped with this type of engine since receiving its first A321neo aircraft in 2018. Compared to its predecessor, the GTF engine reduces fuel consumption by 20% and noise levels by 75%, aligning with the aviation industry's sustainable development trend. With this order, Vietjet Air's total committed aircraft equipped with GTF engines has reached 137, demonstrating its strategic commitment to building a modern, low-carbon fleet.
Representatives from all parties highly praised the cooperation. Truong Minh Huy Vu, Chairman of the Board of VIFC-HCM, stated that the establishment of AAFH is an important step for Vietnam in building an international financial platform, which will guide global capital to empower the real economy through high-quality institutional services and innovative mechanisms. Paul Majors, Executive Vice President of Airbus, pointed out that Airbus's participation in AAFH as an honorary strategic member will continue to promote innovative financial solutions to support the sustainable development of the aviation industry. Dr. Nguyen Thi Phuong Thao, Chairman of the Board of Vietjet Air, emphasized that AAFH is a strategic milestone in reshaping the global aviation capital support model, and Vietjet will lead high-impact transactions and build a regional sustainable aviation finance ecosystem. Currently, Vietjet Air has ordered nearly 600 aircraft, becoming a core force driving growth in the Asia-Pacific aviation industry with its continuously expanding modern fleet and route network. In terms of regional coverage, the company has launched daily round-trip flights between Vientiane and Hanoi and Ho Chi Minh City, providing convenient travel options for Lao citizens and enhancing Lao tourists' confidence in transiting through Vietnam to other destinations.
Looking ahead, the Asia-Pacific region is expected to become the world's largest aviation market. By participating in AAFH (Airline, Air, and Flight) construction, expanding its low-carbon fleet, and developing regional routes, Vietjet Air will not only strengthen connections between Vietnam and major Asia-Pacific markets but also bring broader economic development opportunities to regional countries, including Laos, contributing to the green and sustainable growth of the Asia-Pacific aviation industry. (End)
