Vietnam’s low-cost carrier VietJet Air has secured a US$300 million aircraft financing agreement with Carlyle Aviation Partners, representing an important step in the airline’s fleet expansion strategy.

Announced during Vietnam’s General Secretary To Lam’s official visit to Singapore last week, the deal will support the delivery of new aircraft between 2025 and 2026, strengthening VietJet’s position in the fast-growing Asian aviation market.

With over 400 aircraft on order, VietJet is rapidly modernizing its fleet to meet rising passenger demand and enhance operational efficiency. The airline says the financing from Carlyle Aviation Partners will help it expand its network while maintaining its commitment to affordable, accessible, and sustainable air travel.

"We are proud to be a long-term strategic partner of VietJet, supporting its expansion and dedication to providing cost-effective travel solutions," says Alexander Rasnavad, president of Carlyle Aviation Partners.

Carlyle Aviation Partners, the aviation investment arm of Carlyle’s global credit business, manages over 360 aircraft across 53 countries and oversees US$192 billion in assets under management.

This agreement aligns with VietJet’s broader strategy to modernize its fleet and enhance both regional and international connectivity, further reinforcing its status as a leading carrier in Southeast Asia.

The latest deal also follows several major financing agreements VietJet has signed in recent months, including in November last year when it signed a memorandum of understanding ( MOU ) with Castlelake, a global alternative investment firm, to finance four Airbus A321neo aircraft valued at US$560 million, supporting the airline’s fleet expansion and route network growth.

In September 2023, during then US President Joe Biden’s official visit to Vietnam, VietJet and Carlyle Aviation Partners signed an MOU for aircraft funding worth US$550 million. The financing agreement covered Boeing 737 MAX aircraft from VietJet’s 200-aircraft order with Boeing.

As it expands its global footprint, VietJet says its strategic financing deals position the airline for sustained growth, enabling it to offer more routes, improve efficiency, and maintain a competitive edge.