Vietjet (VJC) Signs Financing Deal for 10 Comac C909 Aircraft with SPDB Financial Leasing

Overview

Vietjet Aviation Joint Stock Company (VJC) has signed a financing agreement with SPDB Financial Leasing (SPDBFL), a subsidiary of Shanghai Pudong Development Bank, for the operating lease of up to 10 Comac C909 aircraft. The agreement was announced on April 16, 2026, during a state visit by Vietnamese President To Lam to China. Concurrently, Vietjet unveiled five new routes connecting Vietnam to Chinese cities, including Hangzhou, Enshi, Huangshan, Guilin, and Huangshan.

Key Facts

• Vietjet and SPDB Financial Leasing signed a financing agreement for the operating lease of up to 10 Comac C909 aircraft.
• The signing took place on April 16, 2026, at the Vietnamese Embassy in Beijing, witnessed by Vietnamese Deputy Prime Minister Phan Van Giang.
• The agreement was part of a state visit by Vietnamese President To Lam to China.
• Vietjet announced 5 new routes: Hanoi-Hangzhou, Hanoi-Enshi, Hanoi-Huangshan, Ho Chi Minh City-Guilin, and Ho Chi Minh City-Huangshan.
• Routes Hanoi-Enshi and Ho Chi Minh City-Guilin began operations in early April 2026.
• Vietjet also signed a comprehensive cooperation agreement with AVIC Cabin Systems on the same day.
• VJC shares closed at VND 176, up 5.82% on April 15, 2026, with volume of 2.5 million shares.

What Happened

Vietjet and SPDB Financial Leasing (SPDBFL), representing Shanghai Pudong Development Bank, formalized a financing agreement for the operating lease of up to 10 Comac C909 aircraft. The ceremony was held at the Vietnamese Embassy in Beijing, with high-level officials from both countries present, including Vietnamese Deputy Prime Minister Phan Van Giang. The agreement aims to optimize Vietjet’s fleet efficiency, diversify financial resources, and enhance access to international capital markets.

In addition, Vietjet announced five new routes to China: Hanoi-Hangzhou, Hanoi-Enshi, Hanoi-Huangshan, Ho Chi Minh City-Guilin, and Ho Chi Minh City-Huangshan. Two of these routes (Hanoi-Enshi and Ho Chi Minh City-Guilin) commenced operations in early April 2026. The new routes are expected to boost trade, tourism, and people-to-people exchanges between Vietnam and China, aligning with the Vietnam-China Tourism Cooperation Year.

Market Context

Vietjet (VJC), listed on HOSE, closed at VND 176 on April 15, 2026, up 5.82% on above-average volume of 2.5 million shares. The stock has been supported by the broader recovery in travel demand and Vietjet’s aggressive international expansion. The financing deal and new route announcements come amid strengthening Vietnam-China economic ties, which could provide a tailwind for Vietjet’s cross-border operations.

Strategic Significance

The agreement with SPDBFL marks Vietjet’s deepening engagement with Chinese financial institutions and its first major commitment to the Comac C909 aircraft. By diversifying its fleet with Chinese-made aircraft, Vietjet may gain access to alternative financing and potentially lower operating costs. The new routes to secondary Chinese cities position Vietjet to capture growing leisure and business travel demand between the two countries. This aligns with Vietjet’s strategy to become a multinational aviation group and reduce reliance on traditional Western aircraft suppliers.

What to Watch

• Delivery timeline and financing terms for the 10 Comac C909 aircraft.
• Load factors and profitability of the five new China routes in Q2 2026.
• Any additional orders or leasing agreements for Comac aircraft.
• Vietjet’s Q1 2026 earnings report for fleet utilization and cost trends.
• Further cooperation announcements with Chinese financial institutions or aviation suppliers.