Vietjet and Novus Aviation Capital forge new financing and SAF venture

Vietjet and Novus Aviation Capital staff with new agreement.
Photo Credit: Novus Aviation Capital

In a move towards sustainable aviation, Vietjet and Novus Aviation Capital, a global aircraft leasing and financing platform based in the UAE, have joined forces.

This strategic collaboration, marked by the signing of Memorandums of Understandings (MOUs), aims to establish an innovative aircraft financing and leasing vehicle.

Moreover, the partnership delves into the supply of Sustainable Aviation Fuel (SAF) in Vietnam in tandem with SAF One, Novus’s dedicated SAF platform.

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The momentous signing ceremony unfolded in the esteemed presence of Prime Minister Pham Minh Chinh during his official trip to attend the 28th Conference of the Parties (COP28) on climate action in Dubai, UAE.

This collaborative venture initially focuses on providing financing and acquiring 15 new aircraft ordered by Vietjet from aviation giants Boeing and Airbus.

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Scheduled deliveries are earmarked for 2024, with future plans to scale up comprehensively to finance Vietjet’s burgeoning orderbook.

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Photo Credit: VietJet.

Vietjet and SAF One Alliance


In a bid to champion sustainability, Vietjet is set to collaborate with SAF One for the development, supply, and utilization of sustainable aviation fuel (SAF) within Vietnam.

This move positions Vietjet as a trailblazing airline dedicated to researching, developing, and utilizing sustainable aviation fuel.

SAF, derived from waste materials like used cooking oil, emerges as a game-changer in reducing environmental carbon emissions compared to traditional fuels.

Hani Kuzbari, Co-CEO of Novus Aviation Capital, underscores the significance of this partnership. He states,

“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.”

Vietjet’s CEO, Dinh Viet Phuong, emphasizes the multifaceted benefits of the agreement with Novus.

“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,” he affirms.

Furthermore, Vietjet aims to align with global aviation trends, providing high-quality air travel products while taking a pivotal step in sustainable development through the use of SAF.

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Vietjet and Novus Aviation Capital had partnered to establish an aircraft leasing concern and develop SAF production in Vietnam.
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