December 16, 2013 / 11:41 AM / 4 years ago

VietJet Air agrees $800 million engine deal with GE's CFM International

HANOI (Reuters) - Vietnam’s budget carrier VietJet Air has agreed an $800 million deal to buy 40 engines from CFM International, a joint venture between General Electric (GE.N) and Snecma, a unit of France’s Safran SA (SAF.PA), the firms said on Monday.

The agreement was signed by representatives of GE and CFM in the Vietnamese capital Hanoi on Monday. CFM’s Executive Vice President Gael Meheust said the $800 million would cover 28 engines for the Airbus A320 and 12 for the A321 models.

    VietJet reached a $9 billion agreement on September 25 with Airbus EAD.PA to buy 92 jets, mostly A320s, for delivery over the next eight years, in what was the latest big order by Southeast Asia’s rapidly expanding airlines.

    VietJet is aiming for a stock market listing in either Hong Kong or Singapore in 2015 to fund expansion beyond Vietnam.

    Reporting by Nguyen Phuong Linh; Writing by Martin Petty; Editing by Louise Heavens

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