Kuala Lumpur, 6 December 2023 – In a landmark move, Vietjet, a leading airline in Vietnam, has joined forces with Novus Aviation Capital, a prominent global aircraft leasing and financing platform based in the United Arab Emirates (UAE). The partnership, sealed through Memorandum of Understandings (MOUs), is set to explore the establishment of an aircraft financing and leasing vehicle. Additionally, it aims to collaborate on the supply of Sustainable Aviation Fuel (SAF) in Vietnam, in conjunction with SAF One, Novus’ dedicated SAF platform.
A Milestone Signing Ceremony
The signing ceremony, held in the presence of Prime Minister Pham Minh Chinh during his official trip to the 28th Conference of the Parties (COP28) on climate action in Dubai, marks a significant step in the aviation industry’s journey towards sustainability.
Innovative Financing and Green Fuel Initiatives
The newly established vehicle will initially focus on financing and acquiring 15 new aircraft ordered by Vietjet from Boeing and Airbus, with deliveries scheduled from 2024. This initiative is expected to expand significantly to finance Vietjet’s future orders. Furthermore, Vietjet will collaborate with SAF One for the development, supply, and usage of sustainable aviation fuel in Vietnam. This move is a crucial step towards creating a greener aviation environment and actively reducing carbon emissions in the global aviation industry.
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Statements from Industry Leaders
Hani Kuzbari, Co-CEO of Novus Aviation Capital, expressed his enthusiasm: “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 its long-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.”
Dinh Viet Phuong, Chief Executive Officer of Vietjet, also shared his vision: “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.”
About Vietjet and Novus Aviation Capital
Vietjet has been a trailblazer in the aviation industry in Vietnam and beyond, known for its cost management ability, effective operations, and adoption of the latest technology. As a member of the International Air Transport Association (IATA) with an IOSA certificate, Vietjet has been recognized for its safety and innovative services.
Novus Aviation Capital, with its global presence and expertise since 1994, has been a key player in commercial aircraft asset investment. The partnership between Vietjet and Novus, along with the involvement of SAF One, is poised to bring transformative changes to the aviation sector, particularly in sustainable practices.
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