Novus Aviation Capital, and Vietjet have signed MOUs to explore the creation of an aircraft financing and leasing vehicle and work on the supply of SAF in Vietnam through SAF One, Novus’s dedicated SAF platform.
Novus Aviation Capital, a global aircraft leasing and financing platform based in the UAE, and Vietjet have inked Memorandums of Understanding (MOUs) to explore the creation of an aircraft financing and leasing vehicle. This collaboration also extends to working together on the supply of Sustainable Aviation Fuel (SAF) in Vietnam through SAF One, Novus’s dedicated SAF platform.
The signing ceremony, attended by Prime Minister Pham Minh Chinh during his official visit to the 28th Conference of the Parties (COP28) on climate action in Dubai, UAE, marked the initiation of a financial vehicle aimed at initially financing and acquiring 15 new aircraft ordered by Vietjet from Boeing and Airbus. These deliveries are scheduled to commence in 2024, with plans for the vehicle to scale up to finance Vietjet’s future order book.
Hani Kuzbari, Co-CEO, Novus Aviation Capital said, “Partnering with Vietjet on these ventures is a testament to Novus Aviation Capital’s commitment to advancing the aviation industry through developing innovative solutions and structures. This partnership will facilitate Vietjet’s growth and delivery of its new fleet to meet its long-term aviation strategies. Our collaboration with Vietjet through SAF One to develop, deliver and supply technology agnostic SAF solutions in Vietnam is a testament to our dedication to provide global solutions to the industry.”
In parallel, Vietjet and SAF One will collaborate on the development, supply, and usage of sustainable aviation fuel (SAF) in Vietnam. This move reflects Vietjet’s commitment to fostering a greener aviation environment and actively contributing to global efforts to reduce carbon emissions in the aviation industry. SAF is a type of fuel derived from waste materials, such as used cooking oil, offering a significant reduction in environmental carbon emissions compared to traditional fuels.
Dinh Viet Phuong, Chief Executive Officer, Vietjet said, “Our agreement with Novus will enhance Vietjet’s financial capacity to meet the needs of growth, investment, and expansion of our flight network and aircraft fleet in the coming time. The airline will also apply advanced solutions in line with global aviation trends, thereby providing high-quality air travel products to serve customers worldwide. The use of sustainable aviation fuel is a crucial step in the sustainable development of the aviation industry, and Vietjet is proud to be at the forefront of airlines being committed to contributing to this collective effort.”
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This partnership not only provides Vietjet with the financial means to expand and modernize its fleet but also positions it as a pioneer in researching, developing, and utilizing sustainable aviation fuel. As environmental sustainability becomes a key focus in the aviation industry, Vietjet’s forward-looking approach aligns with global efforts to build a more eco-friendly future for air travel.
