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Boeing and Vietjet finalize Vietnam’s largest ever commercial airplane purchase

April 11, 2017 Aviation No Comments Email Email

Vietjet Aviation Joint Stock Company and Boeing [NYSE: BA] have finalized an order for 100 737 MAX 200 airplanes, the largest ever single commercial airplane purchase in Vietnamese aviation history. His Excellency Mr. Trần Đại Quang, President of the Socialist Republic of Vietnam, and U.S. President Barack Obama witnessed the historic agreement, valued at approximately $11.3 billion at current list prices. The signing ceremony conducted by Vietjet President and CEO, Nguyễn Thị Phương Thảo, and Boeing Commercial Airplanes President and CEO, Ray Conner, took place at the Presidential Palace in Hanoi, at approximately 11:40 a.m. local time.

The order is key to Vietjet’s simultaneous regional and international expansion strategies. Already the airline has grown its fleet and added many new routes to connect international airports to popular, convenient and up-and-coming destinations in Vietnam.

At the signing ceremony, President & CEO of Vietjet, Nguyen Thi Phuong Thao, ‎said,  “Vietjet is efficiently operating a fleet of narrow body airplanes. Our investment in a fleet of B737 Max 200 will accommodate our strategy of growing Vietjet’s coming international route network including long haul flights. Through this Agreement, Vietjet will contribute increasing bilateral trade turnover between Vietnam and the United States, as well as contributes in the integration and development of the aviation industry in Vietnam.”

“Boeing is proud to again play an integral role in advancing Vietnam’s aviation industry,” shared Mr. Ray Conner, Boeing Commercial Airplanes President. “We’re honored to be joined by President Trần Đại Quang and President Obama for this historic milestone; an order of 100 737 MAX airplanes. Incorporating the latest design and technology features, the highly efficient 737 MAX will provide Vietjet’s growing network with market-leading economics (20 percent lower fuel use per seat than the first of the Next-Gen 737s), a superior passenger experience, and will contribute significantly to their future success.”

The airplanes in this purchase will be delivered to Vietjet from 2019 until 2023 for supporting Vietjet to continuously extend its domestic network, as well as intensify its international network options in the region. This agreement helps Vietjet increase its fleet to more than 200 aircraft by the end of 2023 with the most modern and advanced technology in the world serving passengers of the new-age airline.

At the same signing ceremony today, Vietjet also signed an agreement with Pratt & Whitney of United Technologies Corp. for the supply of aircraft engines to power the airline’s recent order of Airbus A320NEO and A321NEO aircraft, as well as for the provision of technical and maintenance service for this fleet.

His Excellency Mr. Trần Đại Quang President of the Socialist Republic of Vietnam, and U.S. President Barack Obama along with the delegations of both countries’ government leaders witnessed the agreement signed by Vietjet Vice President Dinh Viet Phuong and Pratt & Whitney’s Vice President of Sales, Mary Ellen Jones. The agreement is valued at USD3.04 billion.

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