Two Vietnamese airlines have signed aircraft financing deals totalling USD860 million. Vietnam Airlines (VN, Hanoi Noi Bai International) has signed a USD560 million memorandum of understanding with Citibank S.A. "to support its strategic investment initiatives," while VietJetAir (VJ, Hanoi Noi Bai International) inked a USD300 million agreement with Av AirFinance to help finance B737-8 deliveries.
Both agreements were signed in the presence of Viet Nam's deputy prime minister, Ho Duc Phoc, and as part of an official Vietnamese government trade mission to the United States to strengthen trade ties.
According to the ch-aviation fleets module, VietJetAir has 269 aircraft on order, including 170 aircraft at Boeing. This does not include options. Last year, Vietnam Airlines said it planned to issue a tender for around 50 narrowbody aircraft in the first half of 2025, and a second tender at a later date for around the same number of aircraft but a mix of narrow and widebodies.
In statements accompanying the finance agreements, both airlines stressed their enthusiasm for doing business with the United States. "Collaborating with leading global financial institutions, especially those based in the US, is a key pillar of Vietnam Airlines’ long-term strategy to enhance competitiveness, modernise its fleet, and stay aligned with evolving global aviation trends," reads the Vietnam Airlines statement.
“I am steadfast in my commitment to working tirelessly and fostering global partnerships that help bridge cultures, economies, and technologies between Viet Nam, the United States, and the wider world,” said VietJetAir Chairwoman Nguyen Thi Phuong Thao.
VietJetAir noted that it had existing contracts with US corporations totalling almost USD50 billion. The airline added that it expects to sign another USD14 billion worth of contracts soon, including adding to a 2019 order for B737 MAX jets signed in front of US President Donald Trump.
In 2024, Viet Nam had a record trade surplus of USD123.5 billion with the United States. Earlier this month, Trump slapped a 46% tariff on Vietnamese imports, since suspended for 90 days. The Vietnamese government is now working to reduce that rate. Aircraft orders can go a long way to reducing the surplus. VietJetAir said its existing and upcoming contracts "are poised to contribute significantly to reducing the trade imbalance between Viet Nam and the United States in the near future."
Following Vietnam Airlines signing the MOU, it was due to meet with the Export-Import Bank of the United States (EXIM) to explore potential loan guarantee opportunities.
