Budget airline Vietjet has inked a memorandum of understanding (MoU) worth USD150 million with SR Technics, one of the world leading providers of Maintenance, Repair and Overhaul (MRO) services.
The signing ceremony on Friday was witnessed by Vietnamese President Nguyen Xuan Phuc, Swiss President Guy Parmelin, high-ranking dignitaries, and business representatives of both countries during the official visit of the Vietnamese President to Switzerland.
The MoU will enable SR Technics to provide MRO services on Vietjetâ€™s CFM56-5B engines installed on their Airbus A320 and A321 fleet. The work on the engines will be carried out at SR Technicsâ€™ world-renowned facilities at Zurich Airport in Switzerland.
It will also include providing engine maintenance, technical and training services, component requirements and repair, and setting up a new Aviation training centre as a joint venture between Vietjet and SR Technics.
SR Technicsâ€™ Chief Executive Officer Jean-Marc Lenz said a long-term partnership between Vietjet and SR Technics confirmed the airlineâ€™s confidence in SR Technicsâ€™ ability and expertise to provide 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.
Vietjet Managing director Äinh Viet Phuong said the MoU paved the way to further develop both sidesâ€™ cooperation, which had been nourished by a long-standing relationship between Vietnam and Switzerland.
The same day also saw a strategic cooperation agreement signed between Vietjet and Swiss AviationSoftware (Swiss-AS), one of the worldâ€™s leading provider of aviation maintenance solutions based in Switzerland.