Dublin-based aircraft lessor Avolon is suing Vietnamese budget airline Vietjet in London’s Commercial Court over disputes linked to jet leases, with six Avolon subsidiaries represented by Clifford Chance taking individual actions.
Vietjet operates a fleet exceeding 100 Airbus jets and leases wide-body A330 aircraft, with plans for expanding its routes to Europe and the United States, and has recently placed a provisional order for 20 Airbus A330neo jets.
Avolon, the most exposed lessor to Vietjet by net book value at the end of last December, is joined by other significant lessors like Carlyle Aviation, CCB Financing Leasing, SMBC Aviation Capital, and ICBC Aviation.
Vietjet saw significant growth in 2023, with revenues of €2.2bn, launching 33 new routes, operating 133,000 flights, and carrying 25.3 million passengers; it also finalised terms with Boeing for the purchase of 200 737 Max jets, supported by Carlyle Aviation Partners with a financing facility.
Vietjet’s non-executive directors include Donal Boylan, who joined the board in 2019 a former ormer CEO of CDB Aviation Lease Finance and colleague of Declan Ryan.
