Vietjet's President and CEO signed an Agreement for the PurePower Geared Turbofan™ (GTF) engine with Representative from Pratt & Whitney of United Technologies Corp from the US. — Photos Vietjet

SINGAPORE (Biz Hub) — Viet Nam's fastest growing airline, Vietjet announced on Wednesday, February 17, that it had signed several big contracts with foreign partners at the ongoing Singapore Airshow 2016.

The airline inked the deal, worth US$3.04 billion, with Pratt & Whitney of United Technologies Corp from the US to purchase the PurePower Geared Turbofan™ (GTF) engine, which will be used to power the carrier's order of 63 Airbus A320neo and A321neo family of aircraft.

"With its advanced design of less fuel costs and CO2 emissions, the new engines are expected to boost the carrier's efficiency and protect the environment as well as enable Vietjet to offer passengers more affordable air fares," Vietjet's President and CEO Nguyen Thi Phuong Thao said.

During the show, Vietjet also signed a contract with SR Technics (Switzerland) for Component and Maintenance Services for its A320 family fleet.

Vietjet's vice president Nguyen Duc Thinh at the signing ceremony with SR Technics.

"The deal, worth $60 million, marks a milestone in the relationships between the two companies following the success of CFM56-5B Engine Services initiated in early 2015," Vietjet said in its statement.

"SR Technics is a world-leading partner in providing advanced MRO (maintenance, repair and overhaul) services with flexible and committed solutions, which can meet Vietjet's operation demands," Vietjet Vice President Nguyen Duc Thinh said.

"This agreement further enhances our commitment and demonstrates the continued confidence that both organisations have in each other. We believe that Vietjet will continue to gain great success in the future," SR Technics' interim CEO Jeremy Remacha said during the signing ceremony.

Training centre establishment

The third agreement was inked between the airline and Airbus on the establishment of an A320/A321 flight and maintenance training centre in HCM City.

Vietjet's President and CEO presented a sourvernir for Airbus' representative at the signing ceremony.

The centre will focus on training pilots, engineers, mechanics, flight dispatchers and flight trainers. It will host an Airbus A320 Full-Flight Simulator (FFS) to conduct flight crew training for its A320 family fleet.

In addition, Airbus will also provide maintenance training services via its training media and courseware including its dynamic trainers and teaching techniques. These will be delivered within the Airbus Competence Training (ACT) classroom concept, while bringing Airbus' and EASA's standards to the Vietjet training centre.

With this agreement, Vietjet has become the first airline in Viet Nam to collaborate with Airbus for an A320 family fleet flight and maintenance training centre, which is to be one of Airbus's training legs in the Asia Pacific.

"Airbus' training expertise will help enforce Vietjet's capabilities in flight and maintenance training to be in line with the internationally recognised standards. Investment in an aviation institute is one of the most important goals in Viejtet's sustainable growth strategies," Dinh Viet Phuong, vice president of Vietjet said.

"Teaming-up with Vietjet through our first training services agreement in Viet Nam is a major milestone to deliver Training by Airbus in the region, and it ensures more efficient service, support and proximity to our customers," Didier Lux, head of Airbus Customer Services said. — VNS