Boeing wins $15.7 billion Vietnam orders on Trump’s Hanoi visit - Hindustan Times
close_game
close_game

Boeing wins $15.7 billion Vietnam orders on Trump’s Hanoi visit

Hanoi | ByBloomberg
Feb 27, 2019 12:23 PM IST

Vietnam’s Bamboo Airways and VietJet Aviation JSC signed deals to buy 110 aircraft from Boeing Co. during President Donald Trump’s visit to Hanoi for a summit with North Korean leader Kim Jong-Un.

Vietnam’s Bamboo Airways and VietJet Aviation JSC signed deals to buy 110 aircraft from Boeing Co. during President Donald Trump’s visit to Hanoi for a summit with North Korean leader Kim Jong-Un.

The agreements were signed in the presence of US President Donald Trump and Vietnam’s President Nguyen Phu Trong.(Bloomberg)
The agreements were signed in the presence of US President Donald Trump and Vietnam’s President Nguyen Phu Trong.(Bloomberg)

Bamboo agreed to purchase 10 787-9 Dreamliners worth about $3 billion, while VietJet’s order is for 100 737 Max planes valued at $12.7 billion, Boeing said Wednesday. VietJet’s 100-plane commitment was unveiled at the Farnborough air show last year.

HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!

The agreements were signed in the presence of Trump and Vietnam’s President Nguyen Phu Trong.

Vietnam’s airlines are expanding their fleets as rising incomes and the region’s growing economies are spurring many to fly for the first time, boosting demand in the Asia Pacific, whose air-travel market is projected to surpass that of North America and Europe combined. Demand in Vietnam is also expected to climb after U.S. regulators last month gave their approval to the nation’s air-safety system, making its airlines eligible to begin direct flights to the U.S. and codeshare with American carriers.

Vietnam’s jet-shopping spree is outsized for a country with a population of 95 million people, George Ferguson, an analyst with Bloomberg Intelligence, said before Wednesday’s announcement. While the main Vietnamese airlines only have 187 aircraft in service, there are another 245 planes on order, according to FlightGlobal data analyzed by Bloomberg Intelligence.

Separately, General Electric Co. signed a $5.3 billion deal with VietJet to service engines for 200 Boeing 737 Max aircraft on order.

Discover the complete story of India's general elections on our exclusive Elections Product! Access all the content absolutely free on the HT App. Download now!
Stay informed on Business News, TCS Q4 Results Live, Jio Financial Services Q4 Results Live along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Sunday, April 21, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On