Global aircraft leasing and financing company Novus Aviation Capital and new-age carrier Vietjet Air have signed a Memorandum of Understanding (MoU) for the financing and leasing of 10 aircraft over the next 18 months.
The investment is valued at approximately US$1.3 billion at list price, encompassing a combination of operating and finance leases. The aircraft will be a mix of single aisle aircraft from Vietjet’s order book.
The new deal comes shortly after Vietjet took delivery of its fifth aircraft through Novus, an Airbus A321NEO, growing its fleet to 68 aircraft at an average age of 2.8 years. Currently, Vietjet operates around 400 flights daily, carrying more than 80 million passengers to date, with 119 routes covering destinations across Vietnam and international destinations such as Japan, Hong Kong, Singapore, South Korea, Taiwan, mainland China, Thailand, Myanmar, Malaysia, Indonesia and Cambodia.
Hani Kuzbari, Managing Director at Novus Aviation Capital, said, “With over 100 million people, a growing middle class, and an increasingly de-regulated aviation industry, Vietnam is one of the most interesting markets for our industry. Novus Aviation Capital is now in its 25th year and we are honored to mark this milestone in our partnership with Vietjet, an airline with a bright future that continues to experience impressive growth.”
“This MoU with Vietjet is an integral part of our business strategy to accelerate company growth and invest in promising markets. It is testament to the wide range of products we offer our airline customers, including – in this case – operating lease and high loan to value finance lease. One of Novus Aviation Capital’s core strengths is our ability to support airline customers with very large underwritings, high-quality deals and services across the value chain, including both financing and leasing solutions,” Hani Kuzbari continued.