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Boeing has won a contract for the supply of 100 airplanes from VietJet Aviation Joint Stock Company, a Vietnamese low-cost carrier. The deal for 737-MAX-200 airplanes was signed by Vietjet president and CEO, Nguyễn Thị Phương Thảo and Boeing Commercial Airplanes president and CEO, Ray Conner at the presidential palace in Hanoi, Vietnam's capital.

Valued at $11.3bn (£7.78bn, €10.06bn) at current list prices, the deal was witnessed by US President Barack Obama, who is on a state visit and Trần Đại Quang, the president of Vietnam. This deal marks the largest ever single commercial aircraft purchase deal ever in Vietnam aviation.

Boeing and VietJet sign $11.3bn deal for 100 airplanes in the presence of US President Barack Obama
This deal marks the largest ever single commercial aircraft purchase deal ever in Vietnam aviationReuters

"Vietjet is efficiently operating a fleet of narrow body airplanes. Our investment in a fleet of B737 Max 200 will accommodate our strategy of growing Vietjet's coming international route network including long haul flights. Through this agreement, Vietjet will contribute increasing bilateral trade turnover between Vietnam and the United States, as well as the integration and development of the aviation industry in Vietnam‎", the Vietjet CEO said.

These airplanes, which will come with the most modern and advanced technology in the world, will be delivered between 2019 and 2023. It will help Vietjet, which started operations in December 2011, to execute its domestic and international growth plans. It will also help the low-cost carrier, which currently operates a fleet of 35 aircraft, to increase its fleet size to more than 200 airplanes by the end of 2023.

The deal marks a huge win for Boeing as VietJet has until date only purchased and operated Airbus jets. "Boeing is proud to again play an integral role in advancing Vietnam's aviation industry. We're honored to be joined by President Quang and President Obama for this historic milestone and order of 100 737 MAX 200 airplanes. Incorporating the latest design and technology features, the highly efficient 737 MAX 200 will provide Vietjet's growing network with market-leading economics, a superior passenger experience and contribute significantly to their future success", Conner said.