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Vietjet and Novus Aviation Capital sign MoUs Brand TD

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Vietjet and Novus Aviation Capital, a global aircraft leasing and  financing platform headquartered in the United Arab Emirates (UAE), have signed Memorandum  of Understandings (MOUs) to explore the establishment of an aircraft financing and leasing  vehicle as well as collaborating on the supply of Sustainable Aviation Fuel (SAF) in Vietnam. Alongside SAF One, Novus’s established and dedicated SAF platform.

The signing ceremony took place in the presence of Prime Minister Pham Minh Chinh during his  official trip to attend the 28th Conference of the Parties (COP28) on climate action in Dubai, UAE.

The vehicle will initially provide financing and acquisition of 15 new aircraft ordered by Vietjet  from Boeing and Airbus, with deliveries scheduled from 2024. The vehicle is expected to  comprehensively scale up to further finance Vietjet’s future orderbook.

In addition, Vietjet will join forces with SAF One for the development, supply and usage of  sustainable aviation fuel (SAF) in Vietnam, contributing to creating a greener aviation  environment and actively taking efforts to reduce carbon emissions in the global aviation industry.  The agreement makes Vietjet a pioneering airline engaging in research, development, and  utilization of sustainable aviation fuel. SAF is a type of fuel made from waste materials such as  used cooking oil, which significantly reduces environmental carbon emissions compared to  traditional fuels.

Hani Kuzbari, Co-CEO, Novus Aviation Capital said: “Partnering with Vietjet on these ventures  is a testament to Novus Aviation Capital’s commitment to advancing the aviation industry through  developing innovative solutions and structures. This partnership will facilitate Vietjet’s growth  and delivery of its new fleet to meet itslong-term aviation strategies. Our collaboration with Vietjet

through SAF One to develop, deliver and supply technology agnostic SAF solutions in Vietnam is  a testament to our dedication to provide global solutions to the industry.”

Vietjet’s Chief Executive Officer Dinh Viet Phuong said: “Our agreement with Novus will enhance Vietjet’s financial capacity to meet the needs of growth, investment, and expansion of our  flight network and aircraft fleet in the coming time. The airline will also apply advanced solutions  in line with global aviation trends, thereby providing high-quality air travel products to serve  customers worldwide. The use of sustainable aviation fuel is a crucial step in the sustainable  development of the aviation industry, and Vietjet is proud to be at the forefront of airlines being  committed to contributing to this collective effort.” 

The new-age carrier Vietjet has not only revolutionized the aviation industry in Vietnam but also  been a pioneering airline across the region and around the world. With a focus on cost management  ability, effective operations, and performance, applying the latest technology to all activities and  leading the trend, Vietjet offers flying opportunities with cost-saving and flexible fares as well as  diversified services to meet customers’ demands.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the  IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline  has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product  rating website airlineratings.com and listed as one of the world’s 50 best airlines for healthy  financing and operations by Airfinance Journal in many consecutive years. The airline has also  been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline  Ratings, and many others.

 

 

 

The post Vietjet and Novus Aviation Capital sign MoUs appeared first on Brand TD.

Kanchan Nath

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