News
UK High Court order could force Vietjet to “dismantle parts” of its business
May 15th 2025
Britain’s London High Court has refused Vietjet’s application for a stay and ruled the Vietnamese LCC must pay around US$180 million to FW Aviation, a unit of a London buyout fund that specializes in leasing aircraft, Bloomberg News exclusively reports. Read More » The funds must be paid in three equal installments from May 15 to late November, the court ruled. On April 27, Vietjet said it would be “unable to pay the entire judgment debt without re-arranging its business and quite possibly dismantle parts of it.” A grounding of a “material part of” its 110-strong fleet would force significant flight cancellations, Vietjet said. With Vietnamese law requiring passenger refunds on scheduling disruptions, it would mean a liability of around $600 million alone, the LCC submitted. “This would therefore be a further direct consequence of the judgment that would force Vietjet into liquidation,” the LCC said. On May 1, a judge of the court ruled that “for practical purposes, I am in no doubt the defendant could, if it chose, find the funds required to meet the judgment of this court in the same way the defendant is able, apparently, to find funds to purchase aircraft or enter into other contracts relating to its business activities.” In a statement to Bloomberg, the LCC said it “remains optimistic it will overturn the original judgment in an appeal scheduled for this month.
