Aircraft Orders & Deliveries
VietJet Secures $965 Million Financing for Boeing 737-8 Fleet Expansion
VietJet signed a $965 million deal with Griffin Global Asset Management to fund six Boeing 737-8 aircraft, advancing its fleet modernization amid diplomatic talks.
This article summarizes reporting by Reuters.
VietJet has officially signed a financing agreement valued at approximately $965 million (VND 24.5 trillion) with Griffin Global Asset Management. According to reporting by Reuters, the deal will fund the acquisition of six Boeing 737-8 Commercial-Aircraft, marking a significant step in the Vietnamese low-cost carrier’s fleet modernization strategy.
The agreement was finalized in Washington, D.C., on February 19, 2026, amidst a high-profile diplomatic visit. The signing coincides with the attendance of General Secretary of the Communist Party of Vietnam, To Lam, at the inaugural “Board of Peace” summit. We note that this transaction highlights the continued intersection of commercial aviation and international diplomacy between Vietnam and the United States.
Under the terms of the agreement, Griffin Global Asset Management will provide the capital necessary for VietJet to take Delivery of the six narrow-body jets. Griffin, a commercial aircraft leasing and alternative asset management firm backed by Bain Capital, specializes in flexible capital solutions for Airlines globally.
According to the research data accompanying the announcement, the deal is part of a broader effort by VietJet to diversify its funding sources and operational capabilities. While the airline has historically operated an all-Airbus fleet, this financing supports its long-standing order for Boeing 737 MAX aircraft, which had previously faced delays due to global supply chain issues and the type’s grounding.
The Boeing 737-8 (MAX 8) is a direct competitor to the Airbus A320neo family. By securing financing for these airframes, VietJet is moving forward with its plan to operate a mixed fleet, a strategy that industry observers suggest will help mitigate delivery delays from any single Manufacturers.
This commercial milestone was reached during a significant diplomatic event. As reported by Reuters and corroborated by Vietnamese state media, the deal was one of several agreements exchanged during General Secretary To Lam’s working trip to the United States.
General Secretary To Lam was in Washington to attend the “Board of Peace” (Peace Council on Gaza), an initiative launched by U.S. President Donald Trump. The VietJet financing deal was part of a massive suite of economic contracts and cooperation agreements totaling approximately $37.2 billion exchanged between the two nations during this visit. Witnesses to the signing ceremony included high-ranking officials from both governments:
We view this transaction as a classic example of “aviation diplomacy.” Large aircraft orders and financing deals are frequently timed to coincide with state visits to underscore economic cooperation. By finalizing this deal during a summit focused on peace and stability, both Vietnam and the U.S. are signaling that economic integration remains a pillar of their bilateral relationship.
Furthermore, for VietJet, securing nearly $1 billion in financing from a major global lessor like Griffin demonstrates robust international confidence in the carrier’s creditworthiness. Despite the volatile nature of the post-pandemic aviation market, the airline’s aggressive expansion into markets like India, Australia, and Northeast Asia appears to be garnering significant support from global capital markets.
The Civil Aviation Authority of Vietnam (CAAV) has forecasted a strong recovery for the sector, targeting 95 million passengers in 2026. This growth is driven by a resurgence in international tourism and favorable visa policies. The addition of these six Boeing 737-8 aircraft will provide VietJet with the capacity needed to meet this surging demand, particularly as the industry prepares for the opening of the Long Thanh International Airport.
In a statement regarding the deal’s significance, the parties emphasized the role of modern aircraft in meeting travel demand. As noted in the press materials:
“The deal is part of VietJet’s strategy to diversify its international funding sources and modernize its fleet to meet growing travel demand.”
This move also operationalizes VietJet’s massive backlog of Boeing orders, which includes 200 737 MAX aircraft signed in previous years. With the first deliveries now financed, the carrier is poised to challenge regional competitors with a renewed and diversified fleet.
Sources:
VietJet Secures $965 Million Financing for Boeing 737-8 Fleet Expansion
Details of the Financing Agreement
Strategic Context
Diplomatic Backdrop: The “Board of Peace” Summit
AirPro News Analysis
Market Implications for 2026
Photo Credit: Boeing