SR Technics and Vietjet Air sign a Memorandum of Understanding worth US$150 million

SR Technics, a world leading MRO service provider and Vietnam’s leading airline Vietjet Air are pleased to announce the signing of a Memorandum of Understanding (MoU) worth US$150 million involving providing MRO services on Vietjet’s CFM56-5B engine fleet, installed on their Airbus A320 and A321 aircraft. The work on the engines will be carried out at SR Technics' world-renowned facilities at Zurich Airport in Switzerland. The MoU also includes providing engine maintenance, technical and training services, component requirements and repair, and setting up a new Aviation training center, as a joint venture between Vietjet and SR Technics.

The signing ceremony was witnessed by the President of Vietnam Nguyen Xuan Phuc, the President of the Swiss Confederation Guy Parmelin, high-ranking dignitaries, and business representatives of both countries during the official visit of Vietnam president to Switzerland.

As Vietnam’s largest airline in terms of the total number of passengers transported domestically, Vietjet has operated a comprehensive flight network within the country and across the Asia Pacific. It has resumed a series of international flights to and from Vietnam and looks to further expand its operation across continents in the near future. Vietjet is proud to be one of the airlines having the newest and most modern fleets in the region and the world.

Commenting on the MoU signing at the ceremony in Bern, Switzerland, SR Technics' CEO Jean-Marc Lenz said: “We are very proud that Vietjet is committing to a long-term partnership with SR Technics. This confirms their confidence in SR Technics’ ability and expertise to provide best-in-class MRO services including engine maintenance and technical and training support in line with the highest benchmarks in the industry in terms of safety and quality. Therefore, entrusting us to deliver top-quality performance on their engines, proves how strong the foundation of our future collaboration is. I look forward to visiting the new Aviation training center which will be built in Ho Chi Minh City in collaboration with our renowned Vietnamese partner.”

Vietjet Managing Director Dinh Viet Phuong said: “The MoU signing of SR Technics and Vietjet today paves the way to further develop both sides’ cooperation, which has been nourished by a long-standing relationship between Vietnam and Switzerland and on the occasion of Vietnam  President’s official visit to Switzerland especially.”