Vietjet Air and the Carlyle Group, a leading US financial group, signed an aircraft finance agreement for $550 million on September 11, during the State visit of US President Joe Biden to Vietnam.

Carlyle Aviation Partners, a wholly-owned member of the Carlyle Group, will finance the purchase of 737 Max aircraft within an order of 200 aircraft from Vietjet to Boeing. This is a significant order and contributes greatly to the trade balance between Vietnam and the US.

“Carlyle Aviation Partners has been a long-term strategic partner of Vietjet,” said Mr. Robert Korn, Co-Founder and President of Carlyle Aviation Partners. “We are pleased to have accompanied and witnessed Vietjet’s aggressive growth over the last decade. The airline has offered passengers reasonable fares and convenient travel options, contributing positively to aviation and tourism development and fostering investment between Vietnam and the international community.”

During President Biden’s visit, Vietjet and Boeing agreed on a delivery timeline for the first batch of 200 B737 Max aircraft. The order, worth over $25 billion, will be filled over the course of five years, with the first delivery of 12 aircraft scheduled for 2024.

This first batch will be delivered to Thai Vietjet, an affiliate founded by Vietjet. Thai Vietjet is currently one of the leading carriers in Thailand, featuring Vietjet’s brand and image and finding favor among travelers in the region.

Founded in 2002 and with headquarters in Miami, Carlyle Aviation Partners is in the business of global aircraft finance and leasing, currently managing a fleet of 396 aircraft in 59 countries and territories. It is owned by the Carlyle Group, which manages $385 billion in assets.