SINGAPORE: Vietjet, Vietnam’s leading low-cost airline, has taken significant steps to enhance connectivity and foster stronger economic ties between Singapore and Vietnam. During the official visit of Vietnam’s Communist Party General Secretary To Lam to Singapore, Vietjet announced two major initiatives that promise to boost tourism, trade, and sustainability efforts between the two nations. These include the launch of a new direct route connecting Singapore and Phu Quoc and a US$300 million aircraft financing agreement with Carlyle Aviation Partners.

A new air bridge — Singapore-Phu Quoc route

In Vietjet’s latest press release, Vietjet announced plans to expand its network by launching a new direct flight route from Singapore to Phu Quoc on May 30, 2025. The route will operate four round-trip flights per week, adding to Vietjet’s growing regional presence. This new service increases the total number of weekly flights between Singapore and Vietnam to 78, further cementing the airline’s position as a key player in Southeast Asia’s aviation market.

The Singapore-Phu Quoc route is Vietjet’s fourth direct connection to Singapore, joining flights from Ho Chi Minh City, Hanoi, and Da Nang. Vietjet expects to serve over 500,000 passengers annually on this route, continuing its commitment to enhancing tourism and facilitating economic exchanges between the two countries. Since its inaugural Singapore-Ho Chi Minh City route in 2014, Vietjet has transported more than 2.6 million passengers, underscoring the airline’s role in connecting Southeast Asia.

US$300 million aircraft financing agreement

In a landmark move to support its fleet expansion, Vietjet has secured a US$300 million financing deal with Carlyle Aviation Partners. This agreement will help fund the delivery of new aircraft to Vietjet between 2025 and 2026. With an ambitious order of over 400 aircraft, this financing arrangement marks a crucial milestone in the airline’s growth trajectory.

Carlyle Aviation Partners, part of global investment firm The Carlyle Group, manages a fleet of 363 aircraft worldwide. The partnership reinforces Vietjet’s strategic efforts to modernise its fleet while maintaining affordable travel options for its passengers. Alexander Rasnavad, President of Carlyle Aviation Partners, emphasised the significance of this partnership, stating that it supports Vietjet’s international expansion and growth objectives.

Strengthening operation...