VN airline signs strategic agreement with Japanese finance corporations

VietNamNet Bridge – Private airline Vietjet and Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG), signed a memorandum of understanding (MOU) yesterday in Tokyo on the sidelines of the official visit of Party Chief Nguyen Phu Trong to Japan.

Japan’s Prime Minister Shinzo Abe and General Secretary Nguyen Phu Trong witnessed the signing of the MOU, which will pave the way for MUL to finance Vietjet’s leasing and acquisition of three brand new A321 aircraft, worth US$347.2 million, according to the manufacturer’s listed price.

These three aircraft are part of a contract signed earlier between Vietjet and European aircraft manufacturer Airbus to purchase and/ or lease a total of 107 aicraft in coming years.

As planned, Vietjet will receive from 10 to 12 new aircraft every year until the above contract with Airbus is complete. The airline has so far taken delivery of eight A321s and A320s.

Under the terms of the MOU, MUL and Vietjet will also work together to share best practices in airlines operation and management.

MUL is a member of MUFG and the leading Japanese leasing company in terms of assets. It was formed from the merger of Diamond Lease and UFJ Central Leasing on April 2007 and is now listed on the first section of Tokyo and Nagoya stock markets.

MUL has a wide business base with 23 offices and 26 group companies in Japan. Overseas, it has a total of 18 business bases in seven countries. The company is accelerating overseas business through consecutive M&A. Its total operating assets reached 4.5 trillion yen at the end of last fiscal year. MUL has the competitive edge on global assets businesses, such as aircraft and aircraft engine leasing, medical and long-term care businesses and eco-related businesses. (150916)