International aviation partners expressed strong confidence in Vietnam’s aviation prospects in interviews with Vietnam News Agency correspondents in London on the sidelines of the ongoing Farnborough International Airshow in the UK, which gathered more than 1,600 exhibitors across a 500,000-sq.m venue.

Executive Vice President of Vietnam Airlines Nguyen Chien Thang (left) and Paul Geaney, President and Chief Commercial Officer of Avolon, hold the certificate of the signing of the agreement for the lease of additional Boeing 737 MAX aircraft in Farnborough, UK, on July 21.

Barry Flannery, Chief Commercial Officer of SMBC Aviation Capital, said Vietnam is on track to become one of the fastest-growing aviation markets in the Asia-Pacific region over the next two decades.

He attributed this momentum to the country’s young and increasingly affluent population, together with a government that is taking the right steps in developing not only airport infrastructure but also hotels, tourism services and related facilities.

​Paul Geaney, President and Chief Commercial Officer of Avolon, noted that Asia-Pacific is currently the world’s largest and fastest-growing aviation region.

Among the region’s top 10 aviation markets, Vietnam recorded the fastest growth over the past decade, with a remarkable increase of 121%, which he described as extraordinary.

Mathew Adamo, Managing Partner at AIP Capital, viewed Vietnam’s aviation sector as extremely attractive to foreign investors.

He pointed to the country’s strong economic growth and population of more than 100 million people, saying air transport will certainly be part of the future of Vietnam’s growth story and that foreign investors can find many compelling opportunities in the sector.

As global aircraft supply remains constrained and manufacturers’ delivery schedules continue to be extended, leasing aircraft from major lessors has become an effective solution for airlines seeking to expand capacity more quickly alongside long-term purchase agreements.

Under agreements signed at Farnborough, Vietnam Airlines will lease 10 aircraft from SMBC Aviation Capital, four from Avolon Aerospace Leasing Limited and five from Phoenix Aviation Capital, which is managed by AIP Capital.

The new agreements raise the total number of Boeing 737 MAX 8 aircraft in Vietnam Airlines’ fleet development plan to 69, including 50 purchased aircraft and 19 leased ones.

The Boeing 737 MAX 8 is a new-generation narrow-body aircraft that reduces fuel consumption and carbon emissions by about 20% compared with previous-generation models, making it suitable for domestic as well as short- and medium-haul international routes.

Chairman of the Board of Directors of Vietnam Airlines Dang Ngoc Hoa said the national flag carrier has expanded rapidly in recent years, continuously growing both its route network and fleet.

A key focus has been fleet modernisation through new-generation, fuel-efficient and environmentally friendly aircraft such as the Boeing 737 MAX, with the aim of improving operational efficiency and passenger experience.

He said the agreements signed at Farnborough represent the next phase of Vietnam Airlines’ fleet investment strategy.

They are not only preparations for future growth needs but also demonstrate the airline’s determination to build a modern, efficient and highly competitive national carrier capable of strengthening its position in regional and global aviation markets.

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