VietJet vs. FW Aviation: High Court Verdict on $180 Million Dispute

The London High Court ruled that VietJet, a Vietnamese budget airline, owes FW Aviation $181.8 million over a dispute involving four Airbus A321 passenger jets. The argument centers around VietJet's leasing agreement and purported double penalties post-COVID-19. VietJet intends to appeal the decision.

The London High Court has ruled that Vietnamese budget airline VietJet owes just over $180 million to leasing firm FW Aviation. The ongoing dispute centers on four grounded Airbus A321 passenger jets.

FW Aviation, affiliated with FitzWalter Capital, initiated legal action against VietJet in 2022 following the termination of leases due to rent non-payment during the COVID-19 pandemic. VietJet contended that obtaining the planes and payment constituted a 'double penalty.'

The court's verdict, however, asserted VietJet's financial obligation, with the appeal slated for next month. The airline remains confident, declaring its dispute over these planes as unique compared to its dealings with other lessors.

(With inputs from agencies.)