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Vietjet clinches $348mn aircraft deal with Mitsubishi UFJ Financial Group

Tuesday, June 06, 2017, 17:34 GMT+7

Japan’s Mitsubishi UFJ Lease & Finance Company Limited (MUL) will finance the acquisition of three brand new A321 aircraft, worth US$348 million, for Vietnam’s low-cost carrier Vietjet under the terms of a new agreement closed in Tokyo on Monday.

The signing ceremony was witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc, who is on an official visit to Japan between June 4 and 8.

Under the terms of the agreement, Vietjet and MUL, a member of Japan’s leading finance group Mitsubishi UFJ Financial Group, will also work together to share best practice on the operation and management of airlines.

The three aircraft are part of the A320 contract signed previously between Vietjet and European aircraft manufacturer Airbus, the carrier said on Monday.

Vietjet will receive the aircraft before the end of this year to meet the expansion plans of the airline’s domestic and international flight network. The airline has so far taken delivery of more than 20 brand new A321s and A320s.

The finance deal in Tokyo came less than a week after Vietjet also signed a series of agreements worth a total of US$4.7 billion in the U.S., also witnessed by PM Phuc as part of his official visit there.

The deals cover aircraft engine purchases, component maintenance support, technical services, auxiliary power supply and maintenance, as well as aircraft financing and/or purchasing, according to Vietjet.

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