VN airline signs strategic agreement with Japanese finance corporations

Sep 16th at 21:06
16-09-2015 21:06:50+07:00

VN airline signs strategic agreement with Japanese finance corporations

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.

vietnamnet



NEWS SAME CATEGORY

MOT issues circular on airline pilot management

Circular No 41 released by the Ministry of Transport (MOT) is expected to cause problems for domestic air carriers, according to lawyers and airline companies.

TH Group introduces new products at WorldFood Moscow 2015

TH Food Chain Joint Stock Company under TH Group, which owns the well-known TH True MILK brand name, attended the WorldFood Moscow 2015 during September 14-17, in...

Foreign investor rules set for vocational education centres

When establishing a vocational education institution, foreign investors should take notice of certain conditions in order to be granted an investment certificate...

VN, French firms eye freer trade

Vietnamese and French enterprises can join hands in utilising business opportunities to be brought by the Viet Nam-European Union Free Trade Agreement (VEFTA)...

Nam Dinh learns about free trade

The Ministry of Industry and Trade, at a conference yesterday discussed opportunities and challenges arising from free trade agreements (FTAs) to garment and...

Tra Vinh invests $640 million

The Cuu Long (Mekong) Delta province of Tra Vinh plans to invest VND13.4 trillion (US$640 million) to implement 72 projects in the province's restructuring of...

Phu Quoc EZ management board established

Prime Minister Nguyen Tan Dung has approved the establishment of the Phu Quoc Economic Zone (EZ) management board in the southern Kien Giang Province.

Seventh Viet Nam – Singapore Industrial Park built in Nghe An

Vietnam-Singapore Industrial Park Joint Venture Company (VSIP JV) began construction on an industrial-urban-service park in Hung Nguyen District of the central...

In Vietnam, qualified slaughterhouses hurt by illegal competitors

Illegal slaughterhouses are taking a toll on the licensed, qualified facilities in the southern Vietnamese province of Dong Nai by offering much cheaper prices...

Vietnam-Taiwan joint venture to build $115mn interchange in exchange for land

Ho Chi Minh City authorities have given the go-ahead for real estate developer Phu My Hung Development Corporation to build the Nguyen Van Linh - Nguyen Huu Tho...


MOST READ


Back To Top