Vietjet, Honeywell strike $1.1 billion technical service agreement
Vietnam's low-cost carrier Vietjet and U.S.-based Honeywell Aerospace Technologies have entered a cooperation agreement valued at $1.1 billion to provide avionics and aviation technical services for Vietjet’s modern and fuel-efficient fleet.
The event took place in New York on Monday in the presence of Vietnam’s Party General Secretary and State President To Lam during his working visit to the United States.
Vietjet CEO Dinh Viet Phuong (front, right) and Joseph Vitulli, representing Honeywell Aerospace Technologies (front, left), exchange the agreement in the presence of Vietnam’s Party chief and State President To Lam (back, middle) in New York, September 23, 2024. Photo courtesy of Vietjet.
The agreement, exchanged by Vietjet CEO Dinh Viet Phuong and Joseph Vitulli, representative of Honeywell Aerospace Technologies, marks a significant step in Vietjet's ongoing efforts to modernize its fleet.
The airline will implement Honeywell’s avionics and APU (Auxiliary Power Unit) maintenance programs on its new-generation wide-body A330neo and new narrow-body aircraft. The agreement also includes Honeywell Flight Efficiency, a solution which will provide emission reduction and fuel-efficiency monitoring across Vietjet’s entire fleet.
Honeywell is one of the world's leading technology companies in the field of aerospace with Honeywell Aerospace Technologies building aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components, and so on. Its hardware and software solutions enable more fuel-efficient aircraft, direct and on-time flights, and safer skies and airports.
Honeywell Flight Efficiency is designed to help airlines optimize flight operations and reduce carbon emissions. Airlines worldwide, including British Airways, Japan Airlines, and Turkish Airlines, have implemented this solution to save fuel, enhance flight efficiency, and maximize fleet availability.
As Vietjet has been expanding its flight network aggressively, the carrier has signed several major deals with transnational aviation firms.
On July 22, Vietjet and Airbus signed a contract for the purchase of 20 new-generation wide-body A330neo (A330-900) aircraft, worth a total of $7.4 billion by the manufacturer’s list price.
A day later, the Vietnamese carrier and Rolls-Royce, a leading British aerospace and defense company, signed an agreement for 40 Trent 7000 engines and the TotalCare engine service to power the 20 new A330neo aircraft.
- Related News
- Read More
Vietnam’s major affordable housing developer Hoang Quan appoints new CEO
Hoang Quan Real Estate Consulting-Trading-Services JSC (HoSE: HQC), a major affordable housing developer in Vietnam, has appointed Nguyen Long Trieu as its new general director, effective from Monday.
Real Estate - Tue, June 10, 2025 | 4:00 pm GMT+7
US Cargill announces exit from aquafeed business in Vietnam
Cargill, one of the leading animal feed producers in the U.S., has withdrawn from the aquafeed business in Vietnam, said Maxime Hilbert, interim general manager for aqua nutrition at Cargill Thailand & Vietnam.
Industries - Tue, June 10, 2025 | 3:26 pm GMT+7
USD price likely to hit record high of VND26,300 in Q3, drop to VND26,100 in Q4: UOB
Singaporean bank UOB on Monday said its updated forecasts on the USD/VND exchange rate are VND26,300 per USD in Q3/2025; 26,100 in Q4/2025; 25,900 in Q1/2026; and 25,700 in Q2/2026.
Economy - Tue, June 10, 2025 | 2:38 pm GMT+7
Four pillars set stage for Vietnam private sector breakthrough: expert
The four resolutions recently issued by the Politburo, Vietnam's highest decision-making body, mark a critical turning point, opening up major opportunities for Vietnam’s private sector to thrive, said Tran Du Lich, former director of the Ho Chi Minh City Institute of Economics.
Economy - Tue, June 10, 2025 | 12:37 pm GMT+7
How Vietnam’s functional food market evolves
With the presence of major domestic and international brands, along with strong government efforts to dismantle counterfeit product rings, Vietnam's functional food market is expected to continue its upward trajectory in the coming time.
Economy - Tue, June 10, 2025 | 12:18 pm GMT+7
Visa introduces Click to Pay in Vietnam for online shopping experience 'transformation'
Visa has introduced Click to Pay with leading banks and payment facilitators in Vietnam - the first market in Southeast Asia to see the solution that aims to transform online shopping experience.
Finance - Tue, June 10, 2025 | 8:48 am GMT+7
Vietnamese banks leverage national data integration to reach customers
Banks in Vietnam are developing fully digital lending services, enabling customers to apply for and receive loans entirely through online platforms.
Banking - Mon, June 9, 2025 | 11:28 pm GMT+7
Vietnam’s garment-textile exports top $17 bln in five months
Vietnam’s garment and textile exports exceeded $17.58 billion in the first five months of 2025, up 9% year-on-year.
Companies - Mon, June 9, 2025 | 11:21 pm GMT+7
Vietnam's coastal hospitality real estate poised for a new wave of growth
As competition intensifies and the tourism sector rapidly evolves post-pandemic, hospitality real estate investors and hotel operators are adopting more innovative approaches to optimize operations and tap into new revenue streams, write Avison Young Vietnam analysts.
Consulting - Mon, June 9, 2025 | 11:01 pm GMT+7
Rules on private placement bond issuance should be tightened: Vietnam Finance Minister
Allowing only companies that have liabilities five times higher than their equity at maximum to issue bonds via private placement is a necessary move to mitigate risks and prevent abuse, said Finance Minister Nguyen Van Thang.
Finance - Mon, June 9, 2025 | 6:19 pm GMT+7
EV maker VinFast commits to purchasing all output for Vietnamese suppliers
Vietnamese electric vehicle maker VinFast has committed to purchasing all products for domestic suppliers that join its production chain.
Companies - Mon, June 9, 2025 | 5:21 pm GMT+7
Phat Dat affirms leadership role in southern Vietnam's property market following successful launch of La Pura project
The official launch of the La Pura project by Phat Dat Real Estate Development Corp on Sunday in the southern province of Binh Duong made a significant impact, with over 95% of the total inventory in the Zenia sub-zone successfully transacted.
Real Estate - Mon, June 9, 2025 | 4:07 pm GMT+7
Vietnam seeks Samsung partnership in AI-integrated chip design for data centers, telecom networks
Minister of Public Security Luong Tam Quang called on South Korean tech giant Samsung to strengthen its partnership with his ministry in developing Vietnam’s security industry.
Investing - Mon, June 9, 2025 | 3:13 pm GMT+7
Vingroup partners with e-commerce platform Shopee to develop logistics infrastructure
Vietnam’s leading multi-sector conglomerate Vingroup and Shopee, the country’s top e-commerce platform, on Friday signed an MoU to develop infrastructure for e-commerce fulfillment services, enhance digital connectivity between businesses and consumers, and build a sustainable digital ecosystem.
Companies - Mon, June 9, 2025 | 11:48 am GMT+7
Finish fund Pyn Elite spends $41.4 mln on MBB shares of MBBank in May
Finish investment fund Pyn Elite allocated an additional 3% of its portfolio (VND700 billion or $41.38 million) to 26 million MBB shares of MBBank last month, increasing the holding to 12.4%.
Finance - Mon, June 9, 2025 | 11:43 am GMT+7
Fund manager Eastspring Vietnam appoints new CEO
Eastspring Vietnam, one of the largest fund managers in the country by assets under management, last Friday appointed Nguyen Quoc Dung as its new CEO and legal representative.
Finance - Mon, June 9, 2025 | 9:03 am GMT+7
