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Vietjet Signs Deals Worth Usd 4.7 Billion During Vietnamese Prime Minister’s Official Trip To US

June 2, 2017 Business News No Comments Email Email

Today, Vietjet Aviation Joint Stock Company (“Vietjet”) signed an agreement with CFM International – a joint venture between GE Aviation and Safran Aircraft Engines.

Witnessed by Vietnam’s Prime Minister, Nguyen Xuan Phuc and US Secretary of Commerce, Wilbur L. Ross, Jr, the deals include a 12-year maintenance support contract for Vietjet’s 215 LEAP-1B engines, worth USD 3.6 billion and an order for 20 CFM56-5B engines to power 10 new aircraft, worth USD 1 billion.

Vietjetโ€™s President and CEO Nguyen Thi Phuong Thao and President and CEO of CFM International Gaรซl Mรฉheust at the signing ceremony 

Speaking at the signing ceremony, Vietjet’s President and CEO, Nguyen Thi Phuong Thao said, “the engines under today’s agreement will help save up to 15 percent of fuel consumption, as well as obtain other comprehensive services in technical support, maintenance, and training. It is our great honor to be a partner of GE and CFM International and thanks to this agreement, Vietjet’s fleet can enjoy new technical and technological advances which will enhance our flight quality, operation reliability and reduce costs.”

“We appreciate the high level of confidence these agreements show in CFM and in our ability to support Vietjet over the long term,” said Mr. Gaël Méheust, CFM president & CEO. “It has been an honor to be a part of the very dynamic and exciting team for the last six years.  It is a privilege to know that this very special relationship will continue for many more years to come.”

Vietjet also inked an agreement with Honeywell Aviation on auxiliary power unit supply and technical maintenance to power the airline’s 90 aircraft. The agreement, which is worth USD 180 million, is aimed to help Vietjet’s fleet be maintained under world leading standards.

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