Vietjet and Rolls-Royce sign $US400 million deal for Trent 700 engines

Vietjet Rolls
Left to right: Rolls-Royce representatives, Vietjet Managing Director Dinh Viet Phuong (3rd) and Vietjet President & CEO Nguyen Thi Phuong Thao (4th) at the agreement signing event. and Rolls-Royce have signed an agreement to provide engines and engine services for the airline’s coming widebody fleet with a total value of approximately US$400 million. The signing ceremony was witnessed by Vietnam’s Prime Minister Pham Minh Chinh and high-ranking dignitaries of Vietnam and the United Kingdom during the Prime Minister’s attendance at COP26, the 26th United Nations Climate Change Conference of the Parties.

triebwerk-rolls-royce-trentEwen McDonald, Chief Customer Officer, Rolls-Royce Civil Aerospace said: “We are thrilled that Vietjet has chosen our Trent 700 engines to support their fleet development. The Trent 700 has the lowest lifetime fuel burn and the best economics on its aircraft type. In addition, our TotalCare service will help Vietjet maximise the value of its engine assets and increase time-on-wing performance. We look forward to working with Vietjet as they expand their geographical footprint.”

The Trent 700 is the only engine specifically designed for this widebody aircraft and is widely recognised for its outstanding efficiency and reliability. Since its launch in 1995, the Trent 700 has logged more than 60 million hours in service.

Vietjet Managing Director Dinh Viet Phuong said: “Vietjet is delighted to have this very first and meaningful partnership with Rolls-Royce. We believe that the Trent 700 engines will bring a technology breakthrough to Vietjet’s fleet, helping improve flight range and quality and thereby boosting our aircraft’s technical reliability and operational efficiency. The engines are also expected to make our fleet more synchronous. We hope this partnership will also contribute to trade promotion between Vietnam and the UK, creating more jobs for people and businesses of the two countries while making the connectivity between continents more convenient and economical in the future”.

Vietjet signs reinsurance deal for entire fleet
Vietjet and world-leading insurance brokers Gallagher (UK) Limited and Willis Towers Watson Limited have signed a reinsurance certificate covering Vietjet’s entire fleet. Vietjet’s reinsurance certificate for its fleet has been updated and renewed annually since the airline’s first took-off in late 2011. The newly signed deal is worth US$20 million, covering Vietjet’s entire fleet of aircraft registered in Vietnam and abroad. Gallagher is a global leader in broking, risk management and consulting services. Established in 1927, it has a global network of 30,000 expert advisors in more than 150 countries. The supporting broker Willis Towers Watson Limited is a leading global advisory, broking and solutions company. With roots dating to 1828, it has 45,000 employees serving more than 140 countries and markets.

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