Vietjet Air and AV AirFinance have formalized a financial agreement totaling $300 million. The signing event, attended by senior officials including Vietnam’s Deputy Prime Minister Ho Duc Phoc, marks an effort to enhance economic and trade relations between the U.S. and Vietnam.

The deal is part of a broader commitment by Vietjet, which includes securing over $4 billion in aircraft financing from prominent U.S. financial bodies, aimed at expanding its fleet with nearly 300 aircraft scheduled for delivery between 2025 and 2027.

Stephen Murphy, CEO of AV AirFinance, expressed enthusiasm about their partnership with Vietjet, stating:

“We are delighted to be a long-term strategic partner of Vietjet. This new commitment reflects our strong relationship and willingness to support Vietjet’s resurgent growth in the Asia-Pacific region via new generation aircraft.”

Starting in 2025, Vietjet will begin receiving its order of 200 Boeing 737 MAX aircraft valued at over $24 billion, following an announcement made in February 2019 in the presence of U.S. President Donald Trump.

Through collaborations with Boeing and long-term partnerships with major U.S. firms like GE and Honeywell, Vietjet aims to bolster its service offerings and expand its international presence, thus contributing to a reduction in the trade deficit between Vietnam and the U.S.

The airline notably operates over 115 new, fuel-efficient aircraft and has ordered more than 400 additional planes, solidifying its status as a major player in the airline market between India and Vietnam.