NEWPORT BEACH, Calif. (Feb. 10, 2017) - Aviation Capital Group Corp. ("ACG") announced today it has signed a sale and lease-back agreement with Jetstar Pacific for 10 new Airbus A320-200 aircraft. The first two aircraft are expected to be delivered in June 2017 and the remaining eight in the last two quarters of 2017.
"ACG is delighted to continue a long-standing and important relationship with Jetstar Pacific, a premier low-cost airline in Vietnam and Southeast Asia," said Khanh T. Tran, CEO of ACG. "We look forward to working with Jetstar Pacific for many more years as the airline continues to grow in the region."
"As previously announced in September 2016, we are delighted to welcome 10 new Airbus A320ceo aircraft to join Jetstar Pacific's fleet in 2017 and equally pleased to continue our existing cooperation with ACG, as we develop our modern fleet and our low-cost network continues to be expand," said Mr. Nguyen Quoc Phuong, CEO of Jetstar Pacific.
ACG and its subsidiaries have ordered a total of 158 A320 Family aircraft, comprised of 61 A320neo Family and 97 A320ceo Family aircraft, directly from Airbus for its own order book.
Aviation Capital Group is one of the world’s premier full service aircraft asset managers with approximately 415 owned, managed and committed aircraft, which are leased to approximately 90 airlines in approximately 40 countries. ACG was founded in 1989 and is a wholly owned subsidiary of Pacific Life Insurance Company.
About Jetstar Pacific
Jetstar Pacific is currently one of Vietnam's leading low-cost carriers, operating a total of 36 domestic and international routes. It is part of the larger Jetstar Group network that connects to more than 80 destinations in 17 countries with 4,000 weekly flights across Jetstar Airways (Australia), Jetstar Japan (Japan), Jetstar Asia (Singapore) and Jetstar Pacific. The airline is owned by Vietnam Airlines and the Qantas Group.