Tokyo – Mitsubishi UFJ Lease & Finance Company Limited (MUL) will finance Vietjet Air’s acquisition of three brand new A321 aircraft, worth 348 million USD in total.
The loan followed an agreement inked between the two sides in Tokyo on June 5 in the presence of Prime Minister Nguyen Xuan Phuc and high-ranking officials from Vietnam and Japan.
The three planes are part of the A320 family aircraft contract signed between Vietjet and European aircraft manufacturer Airbus.
Vietjet will receive the aircraft this year to meet its expansion of flight network. The airline has so far received more than 20 brand new A321s and A320s.
Under the agreement, Vietjet and MUL – a member of Japan’s leading finance group Mitsubishi UFJ Financial Group will also work together to share best practices for the operation of airlines.
Last week, the Vietnamese budget airline also signed a series of deals in the US worth a total of 4.7 billion USD on engine and component maintenance support, technical services, auxiliary power unit (APU) supply and technical maintenance, and aircraft financing.