The significant agreement for the 200 737 Max aircraft orders was reached by high-ranking delegates from Vietjet and Boeing during the official visit of U.S. President Joe Biden to Vietnam. Furthermore, the first batch of 737 Max aircraft will be delivered to Thai Vietjet, which is an affiliate of the Vietjet Group.
Vietjet Chairwoman Nguyen Thi Phuong Thao and Boeing Global President Brendan Nelson have agreed to take delivery of up to 12 737 Max aircraft in 2024, along with additional terms incorporated into the contract for the 200 737 Max orders. This contract, valued at more than USD $25 billion, with deliveries scheduled over five years starting in 2024, is being hailed as one of the largest commercial deals, greatly contributing to the trade balance between Vietnam and the United States.
The initial batch of 737 Max aircraft will be delivered to Thai Vietjet, an affiliate of the Vietjet Group. Thai Vietjet is currently one of the leading airlines in Thailand, recognized for its association with Vietjet’s brand and image, and is favoured by travellers in the region.
Vietjet’s purchase contract for 200 Boeing narrow-body aircraft faced interruptions due to issues with the 737 Max, compounded by the impacts of the Covid-19 pandemic on Boeing’s global supply chain. Many worldwide orders and aircraft delivery plans were cancelled or indefinitely postponed. Despite challenges faced by other airlines, Vietjet and Boeing have demonstrated unwavering commitment to finding common ground and establishing a mutual long-term strategy to fulfil the contract.
In a noteworthy move, Boeing and Vietjet are collaborating to position Vietnam as an international centre for aviation services, encompassing training, education, and maintenance. The two parties will also cooperate in adopting new technologies such as artificial intelligence (AI), aviation technology, green fuels, and emissions reduction, aligning with industry standards. Furthermore, both sides will work together to support the development of aviation infrastructure, enhance airport operational capabilities, and improve flight management in Vietnam. Boeing also aims to promote Vietnam’s involvement in its global supply chain for aircraft production and aviation equipment.
Find your Zen in Yakishime
“Yakishime – Earth Metamorphosis” is now on display at Bangkok’s Ratchadamnoen Contemporary Art Centre (RCAC) until September 26, 2023. Curated by Mieko Iwata of PANASONIC Shiodome Museum of Art, this remarkable exhibit unveils the art of Yakishime pottery through a captivating display of 90 pieces that span ages, from ancient to modern.
Vietjet’s order is anticipated to create 200,000 jobs in the U.S. labour market and generate a total value of approximately US$35 billion, encompassing aircraft orders and engine engineering services. The achievements of both companies have not only spurred growth in the aviation industry and the Vietnamese economy but have also attracted numerous investors, both domestically and internationally, including major corporations and investors from the United States, the world’s largest economy.
On the side-lines of U.S. President Joe Biden’s visit to Vietnam, Vietjet and Carlyle Aviation Partners, a leading U.S.-based aviation finance and asset management company, signed an aircraft finance agreement worth US$550 million to fund the pre-delivery payment (PDP) of the 737 Max aircraft.
Founded in 2002, with its headquarters in Miami, Florida, Carlyle Aviation Partners is engaged in global aircraft finance and leasing, currently managing a fleet of 396 aircraft in 59 countries.
