13 Jan 2014

Stephenson Harwood advised Vietjet Air in aircraft engine purchase

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International law firm Stephenson Harwood has advised VietJet Air, on the purchase of aircraft engines for up to 46 CFM 56 aircraft engines worth (at catalogue prices) up to US$800 million from CFM International S.A. to be installed on 20 CEO (Current Engine Options) Airbus aircraft.

The Memorandum of Understanding for the transaction was signed in Hanoi on Monday 16 December in the presence of US Secretary of State John Kerry during his visit to Vietnam.

The Stephenson Harwood Team was led by Paul Ng and assisted by James Yao. Commenting on the VietJet Air deal, Paul Ng, global head of aviation based in Singapore, said "We are pleased to have assisted VietJet Air on what is one of largest and most significant engine orders of the year."

VietJet Air is the first private airline in Vietnam to be licensed to operate domestic and international flights.

Last year, Stephenson Harwood also advised Lion Air on the world's largest ever airline order, comprising of 234 Airbus - A320 and A321 aircraft (including Airbus' new NEO aircraft), and valued at US$24 billion.

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