Vietjet signs US$6.1 billion of agreements, launches Asia-Pacific Aviation Financial Hub at Singapore Airshow
Private carrier is key to Vietnam’s push to be a major regional aviation player
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[SINGAPORE] Vietnam’s privately run low-cost carrier Vietjet signed a series of major aircraft engine and financing agreements totalling around US$6.1 billion with both Pratt & Whitney and Pacific Investment Management Company (Pimco).
Separately, it also launched the Asia-Pacific Aviation Financial Hub (AAFH), which will be located within the Vietnam International Financial Centre in Ho Chi Minh City.
It made the announcements during the Singapore Airshow 2026 on Tuesday (Feb 3).
The agreement with Pratt & Whitney, an engine maker, is for engine selection and maintenance services to power 44 A321Neo and A321XLR aircrafts. The deal with Pimco, a US-based global asset management firm managing about US$2 trillion in assets, is for aircraft financing agreements.
Vietjet is Vietnam’s biggest airline when measured by passengers carried. The private airline carried 28.2 million passengers last year. The national flag carrier Vietnam Airlines carried 25.6 million passengers over the same period.
Vietjet has a current fleet size of 121 aircraft according to company data from September, and nearly 600 more aircrafts on order. The airline’s order backlog is one of the largest globally.
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Speaking at the AAFH launch event at the Shangri-La hotel on Tuesday evening, Nguyen Thi Phuong Thao, Vietjet’s chairwoman, said the “Asia-Pacific Aviation Financial Hub marks a strategic milestone in reshaping how global capital supports the advancement of aviation and the broader economic landscape of Vietnam and the region”. Vietjet is a founding member of the hub.
The AAFH aims to serve as a “one-stop, multi-service” hub to connect finance, airport infrastructure, maintenance, repair and overhaul services, along with logistics.
Asia-Pacific is forecast to be one of the key growth drivers for the aviation industry. A recent paper released by the consultancy Alton Aviation said eight out of the 10 fastest-growing markets globally are located within Asia.
The consultancy noted that besides India and China markets, South-east Asia, particularly Indonesia, Vietnam and the Philippines are becoming emerging growth markets.
Growing optimism for the aviation industry in the Asia-Pacific also coincides with rising incomes in some of those markets.
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