GOAL German Operating Aircraft Leasing GmbH & Co. KG (GOAL) will finance Vietjet’s acquisition of four brand new A321 aircraft, worth US$464 million.

The loan followed a strategic agreement inked between the two companies on Thursday in the presence of Prime Minister Nguyen Xuan Phuc and high-ranking dignitaries from Viet Nam and Germany.

The acquisition of the four aircraft is part of the A320 family aircraft contract signed earlier between Vietjet and European aircraft manufacturer Airbus. Vietjet will receive the four aircraft this year to meet expansion plans for the airline’s domestic and international flight network, Vietjet said in its statement.

GOAL is a joint venture of KGAL GmbH & Co. KG (KGAL) and Deutsche Lufthansa AG.

“Following this agreement, all parties will continue to work and co-operate together on more opportunities in aviation development in the future,” GOAL managing director Jochen Baltes said.

Vietjet president & CEO Nguyen Thi Phuong Thao said the deal ensured financing and favourable conditions for Vietjet to further develop its modern fleet, thus helping to enforce the airline’s quality and safety in operations, a key part of its strategy for long-term development.

Vietjet has received 16 new A321 aircraft from Hamburg, Germany, worth nearly $2 billion in accordance with the manufacturer’s listed price, including Airbus’ 9,000th A320 aircraft, Thao said. — VNS