Dublin-based aircraft lessor Jackson Square Aviation has delivered the first two Airbus A321neo aircraft to Vietnamese low-cost carrier VietJet Air, marking the commencement of a five-aircraft sale and leaseback agreement between the two companies.

According to Flying in Ireland, the two aircraft represent the initial phase of the wider transaction, with the remaining three aircraft scheduled to enter service later in 2026.

David Jones, chief marketing officer of Jackson Square Aviation, said the company remained fully committed to supporting VietJet's expansion plans. "The A321neo's advanced, fuel-efficient technology will cut fuel consumption and CO2 emissions, strengthening VietJet's leadership in environmental efficiency," he said, adding that the aircraft would play a key role in enhancing operational performance and advancing the airline's sustainability objectives.

Danny Ngoc Q. TA, vice president of VietJet, said the new aircraft provided critical fuel-efficient capacity ahead of the busy summer high season. "With a total of 576 modern aircraft on order to support our extensive international growth, the new Airbus A321neos provide critical, fuel-efficient capacity just in time for the busy summer high season, allowing us to seamlessly meet passenger demand while advancing our sustainability goals," he said.

VietJet currently has 576 aircraft on order, one of the largest orderbooks among low-cost carriers in the Asia-Pacific region, reflecting the airline's stated ambition to expand its international network significantly over the coming years.

The transaction reinforces Ireland's position as a global centre for aircraft leasing activity. Dublin-domiciled lessors account for a substantial proportion of the world's leased commercial aircraft, with Irish-based entities regularly structuring sale and leaseback transactions with carriers across Asia, the Middle East, Europe and the Americas.

Sale and leaseback arrangements have become an increasingly important financing tool for airlines seeking to release capital tied up in owned aircraft assets while retaining operational use of the equipment, particularly among fast-growing low-cost carriers in high-growth aviation markets such as Vietnam.

Jackson Square Aviation manages a diversified portfolio of commercial aircraft leased to carriers across multiple regions worldwide.