Vietjet closes 3-bln-USD engine deal at Singapore Airshow
Low-budget carrier Vietjet Air has signed a 3.04-billion-USD contract to purchase engines from US-based aerospace manufacturer Pratt & Whitney, a subsidiary of United Technologies Corporation.
Low-budget carrier Vietjet Air inked a 3.04-billion-USD deal to purchase engines from US-based aerospace manufacturer Pratt & Whitney on February 17. (Photo: Vietjet)
Hanoi (VNA) – Low-budget carrier Vietjet Air has signed a 3.04-🎀billion-USD contract to purchase engines from US-based aerospace manufacturer Pratt & Whitney, a subsidiary of United Technologies Corporation.
The deal was closed at the ongoing Singapore Airshow 2016, Asia’s largest aerospace exhibition, in which Pratt & Whitney will supply the newest line of the PurePower Geared Turbofan engine to power the carrier’s order of 63 A320neo and A321neo aircraft.
Present at the signing ceremony on February 17 were Vice Minister of Transportation Nguyen Nhat and Vietnamese Ambassador to Singapore Nguyen Tien Minh.
“With advanced design that reduces fuel costs and CO2 emissions, the new engines are expected to boost the carrier’s efficiency, protect the environment and enable Vietjet to offer passengers more affordable airfares”, Vietjet’s President and CEO Nguyen Thi Phuong Thao stated at the ceremony.
“We take great pride in Vietjet selecting the game-changing Geared Turbofan engines to power their aircraft fleet”, Rick Deurloo, Pratt & Whitney’s Senior Vice President, said.
Founded in 2007, Vietjet currently has a fleet of 34 aircraft, including A320s and A321s and operates about 200 flights daily.
The airline has to date carried 20 million passengers on 47 domestic and international routes to Singapore, the Republic of Korea, Taiwan, China, Thailand and Myanmar.
Last year, it received a certificate of Operational Safety Audit (IOSA) from the International Air Transport Association (IATA) and was recognised as Best Asian Low Cost Carrier at the 26 th annual TTG Travel Awards.-VNA
Airlines have offered a number of promotional programmes as well as increasing more flights in order to serve demand on the occasion of the Lunar New Year (Tet) holiday.
Thousands of people in Ho Chi Minh City have already begun returning to their hometowns in central and northern regions for Tet (Lunar New Year) which begins on February 8.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.