Airline to protect its legitimate rights against distressed fund

Vietjet recently stated that the airline is defending its interests in a commercial dispute with FitzWalter Aviation (FWA), a newly established distressed fund, involving four aircraft during the Covid-19 pandemic when airlines across the globe had suspended operations. At that time, Vietnamese cities, and most significantly, Ho Chi Minh City were in a strict lockdown, creating a completely unprecedented and unforeseen challenge for the airline.
 
The airline, during the pandemic, did not accept that the aircraft’s original financiers suddenly sold the airline’s aircraft loans to FWA and invalidated the existing long-term leasing contract with Vietjet, which allowed FWA to take possession of the aircraft.
 
Vietjet also denies any accusations made by FWA. It has always shown goodwill and willingness to lease or purchase the aircraft that were specifically ordered for the airline to continue the aircraft’s operations. For all airlines, a fleet is the foundation of sustainable development. However, FWA unilaterally grounded the aircraft and changed their registration information without following local authorities’ regulations and laws. 
 
Regarding incorrect narratives relating to the aircraft dispute, the airline confirms that it has received an apology from Aviation Working Group (AWG), who has also corrected and removed all incorrect information about Vietjet relating to the dispute. 
 
Previously, FWA itself also had dispute over three aircraft with Vietnam Airlines – Vietnam’s flag carrier among many others. All these disputes were in vain and FWA failed to obtain any aircraft from the airlines. Currently, disputes between aircraft lessors and airlines have become common in the post Covid period and there are long queues at international commercial courts for related hearings.
 
The commercial dispute between Vietjet and FWA is expected to be heard in mid-2024. By default, the parties in an on-going lawsuit are not allowed to provide information to the public as it might affect the court's decision. 

Vietjet emphasizes that it is and will be continuing to defend itself to protect its legitimate interests and believe that justice will prevail.
 
The airline and its co-founder Madame Nguyen Thi Phuong Thao, are rightly proud of their integrity and committed to retaining good relationships as well as fulfilling all obligations as agreed with their suppliers and other partners in the industry.