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Nov 04, 2021 / 11:27

Vietjet and Safran sign $10-billion strategic partnership agreement

The two sides will extend their cooperation to a long-term strategic partnership.

Vietjet, a Vietnamese low-cost carrier and Safran, an international France-based high-technology group, have signed a US$10-billion comprehensive strategic partnership agreement during the official visit of Vietnam’s high-ranking government delegation to France. 

 The overview of the signing ceremony in Paris. Photo: Vietjet

The event was witnessed by Vietnamese Prime Minister Pham Minh Chinh, French Prime Minister Jean Castex, and high-ranking dignitaries of the two countries on November 3 in Paris.

Building on both sides’ existing cooperation in aircraft engine and engine services through CFM International, Vietjet and Safran will extend their cooperation to a long-term strategic partnership to cover more aircraft engine deals and a variety of other aspects such as aircraft seats and interiors supply.

In addition, the French group will provide Vietjet with training programs including management and technical training whilst also supporting the airline to establish MRO (maintenance, repair, and overhaul) capabilities in Vietnam. Vietjet and Safran Electronics & Defense will accelerate cooperation to enable the Vietnamese airline to achieve the best-in-class Flight Data Analysis solution for its whole airline’s fleet.

Alexandre Ziegler, Safran Senior Executive Vice President, International and Public Affairs said: “We are very pleased to be an integral part of Vietjet’s growth strategy. This agreement reflects the relationship of mutual trust between the airline and Safran and the  recognition of our expertise and experience.”

Safran is an international high-technology group, operating in the aviation (propulsion, equipment, and interiors), defense and space markets. The group deploys 76,000 employees and its sales were 16.5 billion euros ($19.1 billion) in 2020. 

As Vietnam’s leading airline in terms of domestic passenger traffic, Vietjet currently operates a fleet of 90 aircraft. The airline looks to further expand across continents thanks to its new and modern fleet in the incoming time.