Stephenson Harwood on $9 Billion VietJetAir Order
Stephenson Harwood is advising Vietnamese budget carrier VietJet Aviation Joint Stock Co.,or VietJetAir, on a $9 billion order for up to 92 Airbus aircraft.
Launched in 2007, Ho Chi Minh City–based VietJetAir is the first privately owned airline in Vietnam. According to Reuters, the order, which will be finalized in February, includes firm orders for 62 Airbus A320s and options for an additional 30 of the narrow-body passenger jets.
VietJetAir currently operates a fleet of 11 A320s on 11 domestic routes and one international flight to Bangkok. The carrier plans to add international service to Seoul, Taipei and Singapore. It hopes to become a major competitor in the Southeast Asian budget air travel market, currently dominated by Malaysia’s AirAsia Berhad and Indonesia’s PT Lion Mentari Airlines, or Lion Air.
Stephenson Harwood Singapore partner and global aviation head Paul Ng is leading the team advising VietJetAir. Airbus handled the transaction in-house.