Vietjet closes US$3-billion engine deal at Singapore Airshow

Thursday, 2016-02-18 17:32:51
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Low-budget carrier Vietjet Air ​inked a 3.04-billion-USD deal to purchase engines from US-based aerospace manufacturer Pratt & Whitney on February 17. (Photo: Vietjet)
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NDO/ VNA – Budget carrier Vietjet Air has signed a US$ 3.04-billion contract to purchase engines from US-based aerospace manufacturer Pratt & Whitney, a subsidiary of United Technologies Corporation.

The deal was closed at the ongoing Singapore Airshow 2016, Asia’s largest aerospace exhibition, in which Pratt & Whitney will supply the newest line of the PurePower Geared Turbofan engine to power the carrier’s order of 63 A320neo and A321neo aircrafts.

Present at the signing ceremony on February 17 were Vice Minister of Transportation Nguyen Nhat and Vietnamese Ambassador to Singapore Nguyen Tien Minh.

“With advanced design that reduces fuel costs and CO2 emissions, the new engines are expected to boost the carrier’s efficiency, protect the environment and enable Vietjet to offer passengers more affordable airfares”, Vietjet’s President and CEO Nguyen Thi Phuong Thao stated at the ceremony.

“We take great pride in Vietjet selecting the game-changing Geared Turbofan engines to power their aircraft fleet”, Rick Deurloo, Pratt & Whitney’s Senior Vice President, said.

The same day, Vietjet also inked a strategic partnership contract with SR Technics, one of the world’s leading suppliers of technical solutions to airlines.

Under the contract, ST Technics will provide component and maintenance services for Vietjet Air’s A320 and A321 aircraft.

Worth US$60 million, the contract marks a milestone in the relationship between the two enterprises, following the success of the long term CFM-5B engine services partnership, signed in early 2015.

Speaking at the signing ceremony, Vice President of Vietjet Air Nguyen Duc Thinh highlighted that SR Technics is a world-leading partner in providing advanced technical services with flexible and committed solutions, which can meet Vietjet Air’s operation demands.

Meanwhile, interim CEO of SR Technics said his company is honoured to be a strategic partner of the Vietnamese airline.

The contract enhances SR Technics’ commitment while affirming the two sides’ mutual trust, he said, believing that Vietjet Air would see further success in the future.