VietJet Explores Aircraft Financing and Sustainable Fuel Collaboration with Novus

VietJetAir (VJ, Hanoi Noi Bai International) has entered into two significant memoranda of understanding (MOUs) with Dubai-based Novus Aviation Capital, signaling cooperation in aircraft financing, leasing, and sustainable aviation fuel (SAF) initiatives.

The first MOU focuses on the establishment of an aircraft financing and leasing vehicle in collaboration with Novus Aviation Capital. VietJet aims to finance 15 new aircraft from Boeing and Airbus, scheduled for delivery starting in 2024. The partnership is expected to provide comprehensive financial support to address VietJet’s future aircraft orderbook, enhancing its financial capacity for expansion.

VietJet has 259 aircraft on order with both manufacturers, including various models such as the A321-200N and A321-200NY(XLR) from Airbus, as well as the B737-8 and B737-8-200 from Boeing. To meet financial obligations, VietJet has adopted various measures, including share issuance and similar financing agreements with other lessors.

The second MOU involves VietJet’s collaboration with SAF One Energy Management Limited, a Novus Aviation Capital subsidiary, to explore sustainable aviation fuel supplies in Vietnam. SAF One Energy Management Limited, established earlier this year, is a joint venture between Novus and Sencirc Holding Ltd, focusing on the development and supply of SAF solutions. The MOU aims to develop, deliver, and supply technology-agnostic SAF solutions within Vietnam.

VietJet CEO Dinh Viet Phuong expressed optimism about the agreements, emphasizing that the collaboration with Novus would enhance VietJet’s financial capabilities for future growth and fleet expansion. Meanwhile, the partnership with SAF One aligns with VietJet’s commitment to sustainability by exploring SAF solutions in Vietnam.

In a separate development, VietJet confirmed a comprehensive partnership agreement with Lao Airlines, coinciding with the launch of a scheduled service between Ho Chi Minh City and Vientiane. The agreement enables collaboration on network connectivity, maintenance, technical support, and training resources between the two carriers.