Vietjet Refutes Obstruction Claims

Vietjet has refuted obstruction claims by FitzWalter Aviation related to re-exporting four aircraft.

In a statement, the airline's lawyers said:

"According to international norms and standards to ensure the objectivity and independence of
the court while dealing with disputes between parties, Vietjet does not typically comment on
speculative media reporting, particularly when it concerns matters which are the subject of
appropriate legal proceedings.

"However, in response to FitzWalter Aviation’s (FWA) publication of information and new media reports about the airline obstructing the export process of four aircraft in a commercial dispute with FWA, Vietjet’s lawyers re-iterate the airline’s commitment to continued compliance with its legal obligations, and its utmost respect for the integrity of the UK and other courts, and all relevant rules and regulations.

"Vietjet is committed to seeing justice prevail in these proceedings involving FWA, including
the inability of FWA (a relative newcomer ‘vulture fund’ in the aviation industry) to follow
applicable export regulations in Vietnam and comply with laws to commit basic errors.

"Quite independently of other factors, which contrary to reports, saw the Cape Town Convention
operate effectively in Vietnam and enable FWA to efficiently de-register the aircraft without
Vietjet’s involvement, these errors have resulted in FWA’s own aircraft remaining grounded
for a significant period.

"At a time when significant demand for such aircraft exists, the attempt to attribute blame to Vietjet is refuted absolutely. This inability is not something Vietjet associates with any of its significant number of other lessors whose level of competence and professionalism remains evident, and whose inability
has unfortunately protracted a straightforward commercial dispute between the parties, which
could have been avoided otherwise.

"In August 2023, the UK court already dismissed FWA's request for Vietjet to assist in the export
of the aircraft due to the lack of legal grounds. The dispute arose during the peak of the Covid-19 pandemic when cities were under strict lockdown measures and the aviation industry was heavily affected. Amidst the global COVID-19 pandemic, Vietjet's long-term and stable aircraft leasing contracts were abruptly transferred from the original lessors to FWA without the consent of the airline that ordered and operated the aircraft.

"Vietjet’s lawyers completely reject any outstanding debts claimed by FWA. The dispute with FWA, which other than the difficulties FWA has demonstrated in the following applicable laws and regulations in Vietnam and elsewhere, is unremarkable and affects only a tiny percentage of the Vietjet fleet, which continues to successfully expand in partnership and with the ongoing support of top-tier lessors and financiers in the context of a fast-growing aviation market in Vietnam. The airline's aircraft orders are currently on track, with billions of dollars in funding.

"In 2023, Vietjet once again achieved strong business growth with the highest revenue ever
recorded. The airline expanded its international flight network, contributing to the recovery and
development of tourism, investment, and trade both domestically and internationally."