(VOVworld) - Low-cost carrier Vietjet Air and Mitsubishi UFJ Lease & Finance Company Limited (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG), signed a memorandum of understanding (MOU) on purchase-and-lease financing in Tokyo on Tuesday.

Japan’s Prime Minister Shinzo Abe and General Secretary Nguyen Phu Trong witness the signing of the MoU between Vietjet Air and MUL in Tokyo on September 15. (Image credit: Vietjet Air)

The event was held on the sidelines of Party General Secretary Nguyen Phu Trong’s visit to Japan. Japan’s Prime Minister Shinzo Abe and General Secretary Nguyen Phu Trong were present at the signing of the MoU, which will pave the way for MUL to finance Vietjet’s leasing and acquisition of three brand new A321 aircraft, worth 347 million USD. Under the terms of the MOU, MUL and Vietjet will share experience in the operation and management of airlines.