SINGAPORE: Vietjet, Vietnam’s leading low-cost airline, has taken significant steps to enhance connectivity and foster stronger economic ties between Singapore and Vietnam. During the official visit of Vietnam’s Communist Party General Secretary To Lam to Singapore, Vietjet announced two major initiatives that promise to boost tourism, trade, and sustainability efforts between the two nations. These include the launch of a new direct route connecting Singapore and Phu Quoc and a US$300 million aircraft financing agreement with Carlyle Aviation Partners.
A new air bridge — Singapore-Phu Quoc route
In Vietjet’s latest press release, Vietjet announced plans to expand its network by launching a new direct flight route from Singapore to Phu Quoc on May 30, 2025. The route will operate four round-trip flights per week, adding to Vietjet’s growing regional presence. This new service increases the total number of weekly flights between Singapore and Vietnam to 78, further cementing the airline’s position as a key player in Southeast Asia’s aviation market.
The Singapore-Phu Quoc route is Vietjet’s fourth direct connection to Singapore, joining flights from Ho Chi Minh City, Hanoi, and Da Nang. Vietjet expects to serve over 500,000 passengers annually on this route, continuing its commitment to enhancing tourism and facilitating economic exchanges between the two countries. Since its inaugural Singapore-Ho Chi Minh City route in 2014, Vietjet has transported more than 2.6 million passengers, underscoring the airline’s role in connecting Southeast Asia.
US$300 million aircraft financing agreement
In a landmark move to support its fleet expansion, Vietjet has secured a US$300 million financing deal with Carlyle Aviation Partners. This agreement will help fund the delivery of new aircraft to Vietjet between 2025 and 2026. With an ambitious order of over 400 aircraft, this financing arrangement marks a crucial milestone in the airline’s growth trajectory.
Carlyle Aviation Partners, part of global investment firm The Carlyle Group, manages a fleet of 363 aircraft worldwide. The partnership reinforces Vietjet’s strategic efforts to modernise its fleet while maintaining affordable travel options for its passengers. Alexander Rasnavad, President of Carlyle Aviation Partners, emphasised the significance of this partnership, stating that it supports Vietjet’s international expansion and growth objectives.
Strengthening operations with Airbus services
In another strategic development, Vietjet has entered into a multi-year agreement with Satair, an Airbus services company, to enhance the operational efficiency of its fleet. The collaboration focuses on integrated material services (IMS), which will support Vietjet’s entire fleet of Airbus A320 and A330 aircraft.
This agreement includes consignment stock and pooling support for expendables, enabling the airline to optimise operational costs and ensure seamless maintenance operations. Paul Lochab, chief commercial officer of Satair, highlighted that the partnership provides Vietjet with the confidence that it has the necessary support behind its operations, allowing the airline to focus on critical areas of its business.
Vietjet: A driver of economic and cultural exchange
Vietjet’s chairwoman, Dr Nguyen Thi Phuong Thao, emphasised the airline’s broader role in fostering economic development, trade, and cultural exchange. With over 115 aircraft in operation and over 230 million passengers served, Vietjet remains a vital bridge between Vietnam and the world.
As Singapore remains Vietnam’s largest investor, with over US$84.5 billion in investments, Vietjet’s continued collaboration with Singaporean firms plays a critical role in strengthening financial, trade, and innovation-driven ties. These partnerships contribute billions of dollars annually, supporting Vietjet’s goal of building a sustainable and interconnected future for both nations.