French aviation group to provide spare parts for Jetstar Pacific's Airbus A320s.
Low-cost carrier Jetstar Pacific has officially signed a long-term cooperation contract with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) for the provision of aircraft spare parts.
The French aviation group will provide spare parts for Jetstar Pacific’s Airbus A320 aircraft and the two sides will establish a warehouse to ensure quick maintenance and repair.
AFI KLM E&M is major multiservice provider to the aviation industry, with services such as maintenance, repairs and aircraft supply. The company supports nearly 2,000 aircraft operated by 200 airlines.
Jetstar Pacific is a low-cost carrier operating 33 domestic and international routes connected to Jetstar’s global network in 75 destinations in 17 countries, with 4,000 flights per week.
The low-cost carrier is a joint venture between Vietnam Airlines and Qantas Airways (Australia), and last June signed an agreement to buy ten new Airbus A320s from Airbus.
Vietnam Airlines and Qantas invested an additional $139 million last year in Jetstar Pacific.
Qantas invested $100 million and Vietnam Airlines $39 million, to increase Jetstar Pacific’s fleet to 30 in the next four years, according to airline executives.
Vietnam Airlines owns 70 per cent of Jetstar Pacific and Qantas the remaining 30 per cent.
The government’s investment arm, the State Capital Investment Corporation (SCIC), divested from Jetstar Pacific in early 2012 following Vietnam Airlines’ decision to acquire the majority stake in the low-cost carrier. The new partnership between Vietnam Airlines and Qantas received initial capital of $26 million.
Vietnam’s first low-cost airline, Jetstar Pacific began operations in 1991 as Pacific Airlines, under the government’s control. In 2007, Qantas acquired an 18 per cent stake in the airline, which adopted the name Jetstar Pacific a year later and became part of the Australian carrier's low-cost airline network.