Avation PLC (LON:AVAP) has delivered the first of two Airbus A321 aircraft to VietJet Air as part of a transition from a prior operator.
The firm said the aircraft will be leased to the airline for eight years, after which it will be returned following a major airframe maintenance check.
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"We had numerous airlines express interest in these aircraft during a global marketing campaign. We were pleased to place this aircraft on lease to our existing customer and favoured VietJet Air due to satisfactory terms, their excellent conduct and speed of execution”, said Avation’s executive chairman Jeff Chatfield.
VietJet operates a network of routes between countries such as Thailand, Singapore, South Korea, Taiwan, Malaysia, China, Japan, Hong Kong, Indonesia, India and Myanmar with a fleet of Airbus A320s and A321s, it is also an existing customer of Avation.
The transition deal follows news earlier this week that Avation is currently engaged in a strategic review that could result in the company selling itself.