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  • Lucio Tans Sky-High Ambitions: Philippine Airlines to Boost Fleet with 20 Boeing Dreamliners

    Lucio Tans Sky-High Ambitions: Philippine Airlines to Boost Fleet with 20 Boeing Dreamliners

    Philippine Airlines, under the leadership of banking and tobacco magnate Lucio Tan, intends to acquire up to 20 Boeing 787-10 Dreamliner jets as the company upgrades its fleet in response to increased demand in air travel. The national airline has committed to purchasing at least 15 Dreamliners, with the option to buy another five, as stipulated in a preliminary agreement established in the United Kingdom.

    A Historic Purchase for Philippine Airlines

    The new order represents Philippine Airlines’ initial acquisition of Boeing aircraft in nearly 20 years, with delivery slated between 2031 and 2034. While the financial details of the agreement were not disclosed, the overall deal could potentially exceed $7.1 billion based on listed prices. A single Dreamliner typically ranges from $150 million to $200 million, even though its list price can reach a peak of $355 million.

    The procurement follows Philippine Airlines’ successful fundraising of $300 million from its inaugural bond sale after emerging from Chapter 11 bankruptcy in the U.S. in December 2021. The generated funding will contribute to the rejuvenation and expansion of the 85-year-old airline’s fleet.

    Lucio Tan III, president of PAL Holdings, the airline’s parent company, said, “This investment exemplifies our faith in the future of Philippine Airlines and the projected growth of air travel.” He added, “The Boeing 787-10 will augment our medium and longhaul fleet, enabling us to offer an enhanced travel experience for our passengers while improving operational efficiency.”

    A Broader Strategy for Efficiency and Sustainability

    The acquisition of the 787 Dreamliners is part of a larger plan to build a more efficient, sustainable, and competitive airline. The new aircraft will be powered by GE Aerospace’s GEnx-1B engines. Philippine Airlines, which boasts a fleet of over 80 aircraft, provides service to various destinations across the Philippines and 40 international routes in Asia, North America, Australia, and the Middle East.

    Since 2024, the airline has been actively expanding and upgrading its fleet, following a record profit in 2023 spurred by a post-pandemic travel surge. In December, the airline also added five Airbus A320 aircraft to its fleet.

    In addition to aviation, Tan’s business portfolio extends to banking, beer, spirits, tobacco, and real estate through his publicly traded LT Group. His net worth is estimated to be $2.9 billion.

    This purchase also represents a significant win for Boeing, which has also recently secured orders for 100 aircraft from leasing company SMBC and 28 jets from Riyadh Air.

    Questions & Answers

    What is the significance of this purchase by Philippine Airlines?
    This is the first time in nearly two decades that Philippine Airlines has placed an order for Boeing aircraft, marking a significant milestone in the company’s fleet upgrade strategy.

    How will this acquisition benefit Philippine Airlines?
    The acquisition of the Boeing 787-10 Dreamliner aircraft is expected to enhance operational efficiency and the overall travel experience for passengers, particularly for medium and long-haul flights.

    What are Lucio Tan’s other business interests besides aviation?
    Apart from aviation, Lucio Tan’s business interests span across various sectors, including banking, beer, spirits, tobacco, and real estate through his publicly listed LT Group.

  • Vietnam Airlines and Sun PhuQuoc Airways Ink Historic $30B Deal for 90 Boeing Aircraft

    Vietnam Airlines and Sun PhuQuoc Airways Ink Historic $30B Deal for 90 Boeing Aircraft

    Vietnam Airlines and Sun PhuQuoc Airways have entered into a significant agreement to acquire a total of 90 Boeing aircraft in a deal estimated to be worth over US$30 billion. The high-profile contract signing event was held in Washington, D.C., with the participation of Vietnam’s Party General Secretary To Lam and his official delegation.

    Purchases by Vietnam Airlines

    Vietnam Airlines aims to enrich its fleet with the addition of 50 Boeing 737-8 planes, a purchase valued at $8.1 billion. The carrier has planned the procurement timeline between 2030 and 2032. The airline’s strategic intent behind this acquisition is to leverage the new aircraft on its domestic routes as well as for reaching various destinations across Asia.

    Boeing’s best-selling aircraft, the 737-8, comes with a seating capacity of up to 200 passengers and a flight range of 6,570 km. This makes it an ideal choice for the airline’s regional and medium-haul routes.

    Purchases by Sun PhuQuoc Airways

    Sun PhuQuoc Airways, on the other hand, plans to invest $22.5 billion in purchasing 40 Boeing 787-9 Dreamliner aircraft. The 787-9 is a long-haul, wide-body aircraft with a flight range exceeding 14,000 km and the capability to seat 290 passengers.

    At present, Vietnam Airlines is the sole operator in the country of wide-body aircraft. Sun PhuQuoc Airways, having started its operations in the last quarter of 2025, has received its eighth narrow-body aircraft recently and is poised to acquire two more Airbus planes by the end of this month.

    The country’s largest private airline, Vietjet Air, also secured strategic partnerships during this event. These partnerships involve deals worth more than $6.3 billion with leading U.S. financial institutions and corporations.

    Questions & Answers

    What is the value of the Boeing aircraft purchase agreement between Vietnam Airlines and Sun PhuQuoc Airways?

    The total value of the agreement is estimated at over US$30 billion.

    How many aircraft does Vietnam Airlines plan to buy and for what purpose?

    Vietnam Airlines plans to buy 50 Boeing 737-8 planes, costing $8.1 billion, to operate on domestic and Asian routes.

    What type of aircraft does Sun PhuQuoc Airways intend to acquire?

    Sun PhuQuoc Airways intends to purchase 40 Boeing 787-9 Dreamliner aircraft, which are long-haul, wide-body planes.

  • DHL Aviation Strengthens Economic Growth in Africa with Two New Boeing 737s in Lagos

    DHL Aviation Strengthens Economic Growth in Africa with Two New Boeing 737s in Lagos

    DHL Aviation recently debuted two fully branded Boeing 737-400 aircraft at Murtala Muhammed International Airport in Lagos, marking a significant step forward in the company’s ongoing enhancement of Sub-Saharan Africa’s (SSA) logistics infrastructure. The increase in air transport capacity is set to bolster transit times, augment delivery predictability, and widen DHL’s scope to support businesses throughout West Africa and beyond.

    Air Network Expansion in Sub-Saharan Africa

    As the sole logistics provider with a dedicated air network in SSA, DHL is persistently extending its aviation uplift capacity to accommodate the increasing demands of West African businesses. The industries driving this growth comprise e-commerce, perishable goods, energy, and life sciences & healthcare.

    The African Continental Free Trade Area has ushered in a period of expanding commerce across the continent. Consequently, businesses are seeking reliable transit times and consistent delivery performance. The two exclusive aircraft will be incorporated into DHL Aviation’s African air network, fortifying connections on pivotal Africa-Europe and Africa-Asia trade lanes, said Anthony Beckley, VP Operations and Aviation at DHL Express SSA.

    Sustainable Growth and Digitalisation

    DHL’s investment in aviation capacity aligns with the company’s wider commitment to sustainable growth. DHL is proactively fostering digitalisation through AI-enhanced route optimisation and digital customs tools. Furthermore, the company is currently trialling renewable energy and alternative fuel projects across its facilities to aid its long-term environmental objectives.

    The latest investment further solidifies DHL Express’s standing as the go-to logistics partner for businesses aiming to expand their footprint in regional and global value chains, commented Riaan Vorster, Aviation Senior Director at DHL Aviation SSA.

    Questions & Answers

    What impact will DHL Aviation’s investment have on Sub-Saharan Africa’s logistics infrastructure?
    The investment, which includes two fully branded Boeing 737-400 aircraft, will improve transit times, enhance delivery predictability, and enable DHL to better support businesses across West Africa and beyond.

    Why is DHL expanding its aviation uplift in Sub-Saharan Africa?
    DHL is responding to the growing demand from West African businesses across key sectors, including e-commerce, perishables, energy, and life sciences & healthcare.

    How does DHL’s latest investment align with its broader commitments?
    By increasing its aviation capacity, DHL is demonstrating its commitment to sustainable growth. The company is also advancing digitalisation efforts through AI-enabled route optimisation and digital customs tools and piloting renewable energy and alternative fuel projects to support long-term environmental goals.

  • SpaceX, Netflix, Boeing to join ‘biggest-ever’ US business mission to Vietnam

    SpaceX, Netflix, Boeing to join ‘biggest-ever’ US business mission to Vietnam

    SpaceX, Netflix and Boeing are among the companies joining the “biggest-ever” U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organizer said.

    More than 50 companies, including defense, pharmaceutical and tech firms, will participate in the mission organized by the US-ASEAN Business Council, an industry body, according to a list seen by Reuters.

    The delegation is a sign of rising interest in the global manufacturing hub, which is benefiting from a shift away from China amid Sino-U.S. trade friction.

    Vietnam, with a population of 100 million people, also has a rapidly-growing consumer market as its middle class expands.

    “This is the biggest-ever mission in Vietnam,” said Vu Tu Thanh, the US-ASEAN Business Council’s representative in the country, noting that the body had been organizing these events for three decades.

    Streaming giant Netflix, which Reuters last month reported was planning to open an office in Vietnam, is among the companies joining the trip. Netflix did not respond to a request for comment.

    Aerospace manufacturers Boeing, Lockheed Martin and Bell will hold meetings with state-owned Vietnamese defense procurement companies, Thanh told Reuters, adding that it was the first time in about a decade that security firms had decided to join the annual mission to Vietnam.

    In December, the same companies held talks with Vietnamese government officials about the possible sale of helicopters and drones, as the country seeks new suppliers.

    “Helicopters is one of the things the companies hope to sell to the Vietnamese,” Thanh said, although he cautioned that defense deals took time to be completed and no immediate breakthrough was expected.

    Boeing said in a statement that its discussions with officials would focus on its growing partnership with Vietnam and ways to strengthen the country’s aviation and defense capabilities.

    Lockheed Martin and Bell did not respond to requests for comment.

    The majority of the companies joining the business mission already have a business or manufacturing presence in Vietnam, including Apple, Coca-Cola and PepsiCo, Thanh said, with some planning to expand it.

    Participants will have meetings with Vietnam’s top political and regulatory leadership, including with Prime Minister Pham Minh Chinh.

    Thanh said some companies were interested in Vietnam as a manufacturing hub and in providing services to increasingly wealthy consumers at a time when economic growth reached more than 8% last year.

    Among them is SpaceX, which is looking to sell its satellite internet services to Vietnam and other countries in the region, Thanh said. SpaceX did not respond to a request for comment.

    The mission will also include semiconductors companies, pharmaceutical giants Pfizer and Johnson & Johnson, medical device maker Abbott, financial firms Visa and Citibank, internet and cloud companies Meta and Amazon Web Services, the list showed.

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  • Boeing wants to expand Vietnam operations

    Boeing wants to expand Vietnam operations

    One of the world’s leading aircraft manufacturers, Boeing, says it wants to develop its supply chain Vietnam by making more domestic businesses its suppliers.

    At the Boeing Aerospace Industry Forum held in Hanoi Thursday, Michael Nguyen, general director of Boeing Vietnam, said that in the next 30 years, experts believe Southeast Asia would need 4,000 planes. Vietnam is in a leading position to be part of satisfying such a demand, he said.

    Boeing would like to become a strategic supplier for Vietnam, he added.

    The aircraft maker currently has seven suppliers based in Vietnam, but there is only one Vietnamese company among them. In the long run, Boeing would like to directly work with Vietnamese suppliers as it is currently working with mainly South Korean or Japanese partners, Nguyen said.

    “We really want to directly work with Vietnamese companies, but domestic businesses need to learn to walk before they can run. We really want to help Vietnamese businesses to walk fast and run fast,” Nguyen said, adding that Boeing would like to cooperate with universities to train their personnel in the sciences.

    Craig Abler, Boeing director of supply chain Asia, said he had introduced to Vietnamese partners the Boeing’s criteria, including product quality and delivery time, to become a supplier for Boeing. The firm would also visit potential factories and have teams develop suppliers in Vietnam, he said.

    Nguyen said all Boeing planes have parts made in Vietnam, such as doors or door handlers. But the American giant believes Vietnamese workers and experts can grow even more and produce other components with the right guidance, so it would like to expand its operations in Vietnam.

    Do Nhat Hoang, head of the Foreign Investment Agency under the Ministry of Planning and Investment, requested Boeing and other U.S. companies to continue with cooperation initiatives, investments and technological transfer with Vietnam regarding fields like infrastructure and production, among other areas.

    He also wished that Boeing looks into developing a training center for pilots, experts and engineers in aerospace, not to mention aircraft production facilities in Vietnam.

    Boeing has been operating in Vietnam since 1995. Since then, the firm has made several contributions to Vietnamese aviation, including technical assistance in defense and commercial aviation.

  • Vietnam considers lifting Boeing 737 Max ban

    Vietnam considers lifting Boeing 737 Max ban

    The Civil Aviation Authority of Vietnam has proposed that the Boeing 737 Max aircraft be allowed to operate and imported to the country after a ban of over two years.

    The CAAV petitioned the Ministry of Transport to consider greenlighting the aircraft after 178 out of 195 global aviation authorities had lifted the ban on the jet.

    Over 360 Boeing 737 Max aircraft of 35 airlines have resumed service, it said.

    As of Sept.15, the aircraft has operated over 150,000 flights with over 370,000 hours of safe performance.

    Vietnam in April allowed the Boeing 737 Max to pass through its airspace, two years after it was grounded worldwide in March 2019 after 346 people were killed in two crashes in the space of a few months in Indonesia and Ethiopia.

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  • Vietnam’s Bamboo Airways to sign $2 bln deal with GE for engines on Boeing jets

    Vietnam’s Bamboo Airways to sign $2 bln deal with GE for engines on Boeing jets

    Vietnam’s Bamboo Airways will sign a deal valued at nearly $2 billion with General Electric to purchase GEnx engines to power Boeing 787-9 Dreamliner aircraft, the airline said on Tuesday.

    The GEnx engines, due to be delivered in 2022, will be used on the airline’s wide-body Dreamliner fleet to operate planned non-stop routes between Vietnam and the United States, the company said.

    “This new signing agreement will be an important milestone for the airline to expand its transcontinental flight network, connecting Vietnam with medium- and long-range markets,” the statement said.

    The airline said it will open a representative office in the United States and sign agreements with San Francisco International Airport and Los Angeles International Airport this week, paving the way for its first test of a non-stop flight between the countries on Thursday.

    Bamboo said it aims to finalise procedures for non-stop commercial flights to the United Sates early next year, pending government approvals.

    Bamboo said it is also seeking to expand its international flight network and open more routes to Australia, the United Kingdom and Germany, using its Boeing 787-9 Dreamliner aircraft.

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  • Vietnam allows Boeing 737 Max to enter its airspace again

    Vietnam allows Boeing 737 Max to enter its airspace again

    Vietnam’s Transport Ministry has allowed the Boeing 737 Max aircraft to pass through the country’s airspace after two years.

    The decision was taken following a proposal made by the Civil Aviation Authority of Vietnam (CAAV) last month, citing Boeing’s efforts to address technical issues of the aircraft and assessments by aviation authorities in the U.S. and Europe.

    However, the ministry has ordered CAAV to continue monitoring related issues and updating itself with information from peers in China, Australia, and Russia, countries that have not yet opened up their airspace for this aircraft model.

    The ministry also said that after these countries lift their respective bans on the aircraft and if it meets Vietnamese regulations, the CAAV can report it for the ministry to consider permission for the aircraft to operate in and be imported into Vietnam.

    The U.S. allowed the Boeing 737 Max to resume operations in December and Europe did so in January.

    The Boeing 737 Max aircraft was grounded worldwide in March 2019 after 346 people were killed in two crashes in the space of a few months in Indonesia and Ethiopia.

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  • Garuda Indonesia Cancels 49 Boeing 737 MAX Orders

    Garuda Indonesia Cancels 49 Boeing 737 MAX Orders

    Breaking news coming from Jakarta that Garuda Indonesia has canceled their order for 49 Boeing 737 MAX placed a few years ago. This comes after two disastrous 737 MAX crashes and a worldwide grounding of the aircraft for safety reasons. Garuda operates over 70 737NG aircraft. As such, the 737 MAX was a natural addition to the fleet and part of the 737NG replacement plan. At face value, Garuda’s order was worth $4.9 billion.

    Garuda made the following comments upon ordering the 737 MAX:

    The Cancellation

    Garuda Indonesia’s President Director, Gusti Ngurah Askhara Danadiputra, announced the cancellation on Thursday, March 21st. In his comments, he specifically stated that the 737 MAX 8 suffered from bad publicity that spooked travelers from choosing the 737 MAX 8. Specifically, Garuda Indonesia believes there is no longer passenger confidence in the aircraft, so they are cancelling their order.

    This isn’t a major issue for Garuda Indonesia since they only have one 737 MAX 8. Depending on how long the groundings of MAX aircraft last, Garuda could find a new buyer or lessor for that specific aircraft. They could also sell it back to Boeing as part of a deal. Garuda Indonesia is already an Airbus customer. They operate both the A330-200 and 300 widebodies. In addition, Garuda Indonesia has 14 A330-900s on order.

    Cancelling the 737 MAX leaves Garuda with few options for sourcing a narrowbody replacement for their 737-800s. Russia is working on an alternative, however, it seems like Garuda will need an established plane with passenger confidence. In addition, based of Garuda Indonesia’s original order, they will probably go for a fuel efficient plane that carry a similar number of passengers.

    This makes the A320neo the most likely option for Garuda Indonesia. On an order for 50 aircraft, Garuda will probably get some discounts from Airbus that would make the delayed entry, any cancellation fees with Boeing, and increased maintenance and training costs worth it if passengers will still fly with them.

    The A320neo, however, would not be entirely out of place in Garuda’s fleet. Garuda Indonesia operates a low-cost arm called Citilink. Citilink flies over 50 A320/A320neo family aircraft.

    Overall

    In the grand scheme of things, Garuda Indonesia is not a major 737 MAX customer.  Norwegian, SpiceJet, Ryanair, Jet Airways, Lion Air, Flydubai, and Southwest all have over 100 737 MAX aircraft on order. However, if Garuda Indonesia is expressing concern about the 737 MAX, it is likely that other airlines are also concerned about their 737 MAX fleet and orders.

  • Vietjet not operating any flights with Boeing 737 MAX aircrafts

    Vietjet not operating any flights with Boeing 737 MAX aircrafts

    Vietjet does not operate any flights with Boeing 737 MAX aircraft. We are currently operating with a fleet entirely composed of new Airbus aircraft from the A320 family aircraft. The average age of our fleet is 2.82 years. We are also using latest generation of Airbus aircraft, A320-A321 neo.

    Furthermore, Vietjet’s operations meet the highest international standards with regard to safety and maintenance. In particular, we have complied with all of the regulations and met the latest standards which have been set out by the European Aviation Safety Agency (EASA), the Federal Aviation Administration of the United States (FAA) and the Civil Aviation Authority of Vietnam (CAAV), including the approval of aircraft type for our operation.

    The safety for passengers is always Vietjet’s highest priority. Now we are closely monitoring the Boeing 737 MAX case and our decisions related to these aircraft will be made after the official conclusions and guidelines of the world’s aviation authorities and the CAAV. We are doing this to ensure the development of our modern fleet and to meet the highest quality and safety standards. Vietjet has well managed our fleet so far and our transport business plans are unchanged.

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  • Major aviation deals inked as US, Vietnam presidents meet

    Major aviation deals inked as US, Vietnam presidents meet

    Three major aviation deals were signed Wednesday in the presence of Vietnamese and U.S. presidents Nguyen Phu Trong and Donald Trump. Budget airline Vietjet signed with U.S. airplane manufacturer Boeing Company a deal to buy 100 new narrow-body 737 MAX airplanes worth $12.7 billion, according to the manufacturer’s list prices.

    “The deal is an important move for us to meet our international flight network expansion plan with a higher capacity,” Vietjet president and CEO Nguyen Thi Phuong Thao said.

    Vietjet also finalised a $5.3 billion long-term engine support agreement with General Electric for the LEAP-1B engines in its fleet.

    New airline Bamboo Airways also inked a deal with Boeing for 10 wide-body 787-9 Dreamliners worth almost $3 billion.

    The carrier, owned by property and leisure company FLC Group, had placed a provisional order last year for 20 Boeing 787 jets worth $5.6 billion at list prices.

    The new deal brings the total number of Boeing 787 that Bamboo Airways has ordered to 30, worth total value of almost $8.6 billion. First aircraft are expected to be delivered in the third quarter of next year.

    Bamboo Airways is preparing to launch flights to the U.S. from late 2019 or early 2020, after Vietnam earlier this month received a Category 1 rating from the U.S, allowing local airlines to operate direct flights to the U.S.

    “Direct flights between the two countries will not only push tourism activities, but also further facilitate bilateral trade and investment,” FLC president Trinh Van Quyet said in a statement.

    Bamboo Airways is also considering the purchase of 25 narrow-body Boeing 737 MAX worth $2.5 billion, the statement said.

    Vietnam Airlines signed a $300-million for strategic partnership deal in aviation information technology with U.S.-based technology company Sabre Corporation.

    The deal is expected to help the state-owned Vietnamese airline increase IT applications in flight management and passenger service.

    Sabre has been cooperating with Vietnam airlines for over 20 years. Last year, they had signed a $400-million aviation technology application deal.

    Vietnam’s aviation sector has been booming in recent years. Local airlines served almost 50 million passengers last year, up 10.1 percent from 2017, according to the Civil Aviation Authority of Vietnam.

  • Vietjet to ink $13 billion Boeing deal during Trump-Kim summit

    Vietjet to ink $13 billion Boeing deal during Trump-Kim summit

    Vietnamese budget airline Vietjet will sign next week a deal to buy 100 narrow-body Boeing aircraft. The signing will take place on the sidelines of the upcoming Trump-Kim summit, sources said. The sources also said Vietjet will finalize next week a provisional deal agreed last year to buy 100 narrow-body Boeing 737 MAX jets worth almost $13 billion at list prices.

    The U.S. Federal Aviation Administration (FAA) last week gave Vietnam a Category 1 safety rating, allowing local airlines to operate direct flights to the U.S.

    Vietjet, along with other local airlines, had previously expressed interest in operating direct flights to the U.S.

    The carrier, the largest private airline in Vietnam, had also signed a deal to buy Boeing 737 MAX narrow-body jets when former U.S. President Barack Obama visited Hanoi in 2016.

    It also finalized a deal in November last year with Airbus for 50 A321neo jets during a visit to Hanoi by French Prime Minister Edouard Philippe.

    Vietjet currently operates 40 domestic routes and 66 international routes. It has 385 flights daily within Vietnam and to places such as Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar and Malaysia.

  • Vietjet Air targets young aircraft fleet to keep costs low

    Vietjet Air targets young aircraft fleet to keep costs low

    Budget carrier Vietjet Air plans a fleet age average of three years to keep fuel and maintenance costs low. Vietjet Air is in negotiations to firm up the deal after ordering 100 Boeing 737 MAX aircraft and 50 Airbus A321neo aircraft at the Farnborough International Airshow in the U.K. in July.

    The planes are expected to be delivered between 2020 and 2025, Vietjet CEO Nguyen Thi Phuong Thao said recently.

    But some analysts have questioned whether Vietjet is equipping itself with way too much aircraft, given that it already owns 62 Airbus narrow body jets.

    The carrier, which leads the domestic market with a 45 percent share, expects to receive 30 new aircraft and “retire” 10 each year between 2020 and 2025 to keep its fleet young, Thao said.

    “The average age of Vietjet aircraft is three years now and we want to keep it that way,” she said on the sidelines of a CEO conference in Bangkok.

    The average age of Vietjet’s planes is half that of other low-cost and fast-growing carriers in Asia like Malaysia’s AirAsia, Indonesia’s Lion Air and India’s IndiGo, according to Airfleets.net.

    “The main reason for the young fleet is to keep the maintenance and fuel costs low and to ensure a good service for passengers on fresh, convenient planes,” said Thao.

    Deliveries of those planes are expected to happen from now until early next year.Last month, Vietjet inked a deal to buy 10 Airbus aircraft worth $1.24 billion from Japanese and French companies.

    Thai Vietjet, which operates under a franchise contract in Thailand, is flying with seven jets and expected to add ten more jets each year, the carrier had said this month.

    Vietjet runs 385 flights daily within Vietnam and to Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar and Malaysia.

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  • Vietjet to finalize $6.5 billion Airbus order: sources

    Vietjet to finalize $6.5 billion Airbus order: sources

    Vietjet is set to finalize a $6.5 billion jet order with Airbus ​during a visit to Hanoi by French PM Edouard Philippe on Friday. The order for 50 A321neo jets is part of an aggressive investment in the Vietnamese fast-growing budget carrier Vietjet’s fleet that has provided lucrative business for both Europe’s Airbus and its U.S. rival Boeing.

    It is also a boost for Airbus as it seeks to turn a raft of provisional orders put together at July’s Farnborough Airshow into hard revenues, narrowing a gap against Boeing this year.

    The deal is the biggest economic component of an official visit to Vietnam by Philippe from Nov. 2-4, during which he will oversee deals with French firms and hold talks with Vietnamese counterpart Nguyen Xuan Phuc, people familiar with the matter said.

    Airbus and Vietjet both declined to comment.

    Vietnam and France also signed an agreement in September to expand defense collaboration, although details are scant.

    VietJet CEO Nguyen Thi Phuong Thao said this week that Vietjet plans to maintain an average fleet age of just three years to keep fuel and maintenance costs low.

    It placed provisional orders for the A321neo jets and 100 Boeing 737 MAX jets in Farnborough and has been negotiating to firm them up, with deliveries expected between 2020 and 2025.

    The formal signing, to take place on Friday, will help to dispel doubts over the substance of deals announced in Farnborough, which was marked by a rash of vague or incomplete order announcements.

    Finalizing such deals can involve tough negotiations as airlines try to squeeze out last-minute concessions.

    However, finance industry sources have expressed concerns about a glut of orders in Southeast Asia from airlines like Vietjet, Malaysia’s AirAsia and Lion Air of Indonesia and question whether all of the several hundreds of planes on order from the Asian low-cost carriers will actually be delivered.

    Vietjet told the Airline Economics conference in Hong Kong this week that low-cost airlines have a relatively low market position in Vietnam, and that those most successful in driving down unit costs would ride out any downturn in the market.

    Vietnam’s expansion has also been peppered with trade sensitivities as Vietjet – which says it enjoys government support – juggled Airbus and Boeing procurements: a strategy also designed to win bigger discounts.

    Two years ago, Boeing upstaged Airbus by clinching an order for 100 737s during a visit by then-U.S. President Barack Obama.

    Until then, VietJet had only bought from Airbus, including an order for 92 jets in 2013.

    Philippe’s visit is the latest example of Western leaders beating a path to Asia’s low-cost carriers, whose orders have secured thousands of manufacturing jobs, trade experts said.

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  • World’s First Boeing 787-10 Arrives with Singapore Airlines

    World’s First Boeing 787-10 Arrives with Singapore Airlines

    Singapore Airlines welcomed the world’s first 787-10 aircraft as it arrived in Singapore from Boeing’s production facility in North Charleston, South Carolina.

    The newest variant of Boeing’s Dreamliner family of aircraft was received at an arrival ceremony at Changi Airport graced by Singapore’s Coordinating Minister for Infrastructure and Minister for Transport, Mr Khaw Boon Wan, together with beneficiaries from the Association for Persons with Special Needs (APSN) Katong School and other invited guests.

    Guests who attended the event also had the opportunity to witness the unveiling of SIA’s next generation regional cabin products, which will be fitted on the new 787-10s. They include all-new Business Class seats which recline into fully-flat beds.

    “The 787-10 is designed with the latest in technological innovations and SIA is proud to be the launch customer for this newest and largest variant of Boeing’s Dreamliner family,” said Singapore Airlines CEO, Mr Goh Choon Phong, who travelled on the delivery flight from North Charleston.

    “With the unveiling of our new regional cabin products, today’s milestones represent Singapore Airlines’ commitment and dedication to providing our customers with a premium travel experience like no other.”

    SIA’s 787-10s will be used on flights up to eight hours and will commence scheduled service between Singapore and both Osaka and Perth in May 2018, with more destinations to be added as additional aircraft are received. Prior to these services, the aircraft will be operated on select services to Bangkok and Kuala Lumpur for crew training purposes.