Vietnam Airlines, Boeing to sign $7.8B deal for 50 737 MAX jets

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Vietnam Air, Boeing close to signing $7.5B deal for 50 737 MAX jets
Boeing 737 MAX photo from Boeing.
  • Vietnam Airlines and Boeing will sign a US$7.8-billion deal for 50 737 MAX jets
  • The deal comes after US President Joe Biden’s Sept. 10 visit to Vietnam
  • Boeing also has a deal with Vietnam Airlines’ rival VietJet to sell 200 of its 737 MAX planes

Vietnam Airlines and Boeing will sign a US$7.8 billion deal for 50 Boeing 737 MAX jets.

The deal amount, earlier reported by Reuters, was confirmed by the White House on September 11. US President Joe Biden is in Vietnam to elevate ties for a “comprehensive strategic partnership.”

Boeing also has a deal with Vietnam Airlines’ rival VietJet to sell 200 of its 737 MAX planes.

When Vietnam ended its COVID-19 travel restrictions, it surged as the fifth fastest-growing aviation market in 2022 worldwide, according to the International Air Transport Association.

Vietnam’s flag carrier is expected to serve 150 million passengers by 2035. It recorded a net loss of 1.3 trillion dong ($53.96 million) in the second quarter of this year, its 14th quarter in the red.

The carrier attributed the losses to rising fuel prices and other financial risk factors.

The 737 MAX jets were grounded worldwide for months after two fatal crashes in Indonesia and Ethiopia in 2018 and 2019. The planes returned to service at the end of 2020.