Vietnam Airlines to lease 19 Boeing 737 MAX 8s as fleet expansion gathers pace
Vietnam Airlines has unveiled plans to lease 19 Boeing 737 MAX 8 aircraft, adding to an existing order for the type, as part of the carrier’s fleet renewal plan.
The announcement was made at the Farnborough International Airshow, where the Vietnamese flag carrier said it intends to source the aircraft through agreements with three aircraft leasing companies: SMBC Aviation Capital, Phoenix Aviation Capital, which is managed by AIP Capital, and Avolon.
Vietnam Airlines fleet expansion to support long-term growth
The leased aircraft are scheduled to join the airline’s fleet from 2028 onwards and will supplement its existing commitment for 50 Boeing 737 MAX 8s.
Once all deliveries have been completed, Vietnam Airlines expects to operate a total of 69 examples of the type, making the 737 MAX a key component in its future domestic and regional operation.
The additional aircraft form part of the airline’s wider strategy to modernise its fleet.
The carrier is also seeking to improve fuel efficiency and reduce operating costs by introducing a new generation of narrowbody aircraft.
Three lessors selected for lease programme
Rather than relying solely on direct aircraft purchases, Vietnam Airlines is spreading deliveries across a combination of owned and leased aircraft.
SMBC Aviation Capital, Avolon and Phoenix Aviation Capital will each provide aircraft under separate leasing arrangements, giving the airline additional flexibility as it expands its fleet.
The deals come just five months after Vietnam Airlines signed a dela directly with Boeing for 50 737 MAX aircraft.
Vietnam Airlines currently operates 17 787 Dreamliners, serving regional and international routes between Vietnam and Europe.
Together, the 737 MAX and 787 will deliver 20-25% fuel-use improvement compared to the aircraft they replace.
Farnborough announcements highlight expansion ambitions
The Farnborough announcement comes as airlines across the Asia-Pacific region continue to pursue fleet renewal despite ongoing supply chain constraints affecting aircraft deliveries.
On Monday, Philippine Airlines committed to order up to 20 Boeing 787-10 Dreamliners, marking what the carrier said was the largest widebody aircraft order in its history.
The agreement covers 15 firm aircraft and purchase rights for five more. It remains subject to finalisation before being added to Boeing’s official order backlog.
The 787-10s will support Philippine Airlines’ fleet modernisation and expansion across medium- and long-haul routes, complementing its existing Boeing 777 fleet.
Elsewhere, there have been big orders from the lessors, including a Boeing 737 MAX order from Vietnam Airlines’ supplier SMBC.
The lessor has ordered 100 Boeing 737 MAX aircraft, comprising 60 737-10 and 40 737-8 jets.
The announcement reflects continued confidence in the 737 MAX family, and comes after the manufacturer has gained FAA approval to raise its monthly production cap.
Rival carrier seeks 737 MAX operations
Such is the popularity of the MAX in Vietnam, that the flag carrier’s rival, low-cost carrier VietJet Air, is seeking regulatory approval to launch a new domestic airline operation in Australia.
According to reports in the Australian media, the Vietnam-based low-cost operator has already sought to acquire slots at Sydney Airport (SYD) and intends to launch domestic services using Boeing 737 MAXs as soon as 2027 with routes connecting Sydney, Melbourne, and Brisbane.
If approved, VietJet’s Australian subsidiary would be the first international airline to compete directly in the domestic market since Tiger Airways launched in 2007.
