Vietjet inks strategic aircraft financing agreement with GOAL
Vietjet inks strategic aircraft financing agreement with GOAL German Operating Aircraft Leasing GmbH & Co KG
The airline has received 16 aircraft from Germany, worth nearly US$2 billion
(Berlin, July 6, 2017) – Today in Berlin, Vietjet and GOAL German Operating Aircraft Leasing GmbH & Co. KG (GOAL), a joint venture of KGAL GmbH & Co. KG (KGAL) and Deutsche Lufthansa AG, signed a strategic agreement paving the way for GOAL to finance Vietjet’s acquisition of four brand new A321 aircraft, worth US$464 million, according to the manufacturer’s listed price.
Vietjet President & CEO Nguyen Thi Phuong Thao, Vietjet Vice President Dinh Viet Phuong, KGAL CEO Gert Waltenbauer and GOAL Managing Director Jochen Baltes represented both parties in signing the contract as witnessed by Vietnam’s Prime Minister Nguyen Xuan Phuc and high-ranking dignitaries from Vietnam and Germany.
The acquisition of the four aircraft is part of the A320 family aircraft contract signed earlier between Vietjet and European aircraft manufacturer Airbus. Vietjet will receive the four aircraft within 2017 to meet expansion plans for the airline’s domestic and international flight network.
Speaking at the signing ceremony, GOAL Managing Director Jochen Baltes said: “GOAL and KGAL are very excited about the purchase and leaseback of these four aircraft with one of the world’s most dynamic low-cost airlines. Following this agreement, all parties will continue to work and cooperate together on more opportunities in aviation development in the coming time.”
Vietjet President & CEO Nguyen Thi Phuong Thao commented: “We have received 16 new A321 aircraft from Hamburg, Germany, worth nearly US$2 billion in accordance with the manufacturer’s listed price, including Airbus’ 9,000th A320 aircraft, which caused great excitement in Europe. Besides the fact that Germany has provided Vietjet with aircraft, we are truly delighted to work with GOAL, one of Germany’s top aircraft finance and aviation companies. Today’s deal ensures the financing and favorable conditions for Vietjet to further develop its modern fleet, thus helping to enforce the airline’s quality and safety in operations, a key part of our strategy for the long-term development of Vietjet.”
Vietjet also recently signed a similar deal with Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG) to finance Vietjet’s acquisition of three brand new A321 aircraft, worth US$348 million, according to the manufacturer’s listed price.
Earlier in June at the Paris Airshow 2017 in France, Vietjet also signed a deal with Safran for its SFCO2® fuel efficiency solution. The SFCO2 service contract covers the entire fleet of the Ho Chi Minh City-based airline, which will enhance Vietjet’s operational efficiency by reducing fuel consumption and CO2 emissions.
Meanwhile, in May in the U.S., Vietjet also signed a series of deals worth a total of US$4.7 billion to secure maintenance support for engines, components and other technical services, including auxiliary power unit (APU) supply and APU technical maintenance and aircraft financing (and/or purchasing).
GOAL is a joint venture of KGAL GmbH & Co. KG, one of Germany’s top investment companies and a high-ranking player in the world of structured asset finance and investment participation, and Deutsche Lufthansa AG, one of the world’s premier carriers. GOAL currently owns and manages 60 aircraft. It has a broad experience in its core business of operating leasing, technical asset management and aircraft re-marketing and has proven its professional know-how since its foundation in 1998. For more information go to the website at www.goal-leasing.de
KGAL Group is a leading, independent asset and investment manager with an investment volume of €21.5 billion, across 87,000 investors. The group, founded in 1968, operates across Europe and has its headquarters in Grünwald near Munich. It focuses on long-term capital investments for institutional investors in the real estate, aviation and infrastructure (renewable energies) asset classes. A total of 335 employees contribute to achieving earnings that are stable in the long -term, taking into account aspects of revenue and risk.
Established in 2007, Vietjet is now leading the domestic aviation market in Vietnam and actively expanding its international flight network. After more than five years of operations, the airline has flown 40 million passengers, and been awarded 32 domestic and nine international accolades such as being named one of the Top 500 Brands in Asia 2016 and “The Best Asian Low Cost Carrier 2015” at the TTG Travel Awards 2015.
Currently, the airline boasts a fleet of 48 aircraft, including A320s and A321s, and operates over 350 flights per day. It currently operates 67 routes in Vietnam and across the region to international destinations such as Hong Kong, Thailand, Singapore, South Korea, Taiwan, Malaysia, Cambodia, China and Myanmar. For more information, please visit its website at www.vietjetair.com.
Kieu Duong (Amy)
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