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UK Court Denies Request to Freeze Vietjet Assets Over Debts

UK Court Denies Request to Freeze Vietjet Assets Amid Escalating Debt Dispute
A UK court has refused a request to impose a global freeze on the assets of Vietnamese low-cost carrier Vietjet, which is currently embroiled in a mounting debt crisis. The airline faces unpaid debts approaching $217 million, stemming from a legal dispute with FW Aviation, an aircraft leasing company affiliated with London-based FitzWalter Capital.
Legal Proceedings and Financial Implications
FW Aviation alleges that Vietjet defaulted on rental payments for four leased Airbus A321 aircraft, prompting the repossession of the planes. In April 2025, the High Court in London ruled that Vietjet owed FW Aviation over $180 million, a sum that has since increased to $217 million as of late July 2025. Vietjet’s challenge against the lease termination was dismissed by the Court of Appeal in June 2025, solidifying the lessor’s claims.
Following these rulings, FitzWalter Capital sought a global asset freeze to secure repayment. The court’s recent decision to deny this request grants Vietjet additional time to address its arrears with the Ireland-based lessor. While this ruling offers temporary relief, it also underscores the airline’s fragile financial position amid growing scrutiny from creditors and investors. Market analysts warn that the ongoing crisis could depress Vietjet’s stock value and undermine investor confidence. Furthermore, competitors may exploit the situation by expanding their market share or adopting more aggressive pricing strategies.
The airline’s unpaid lease obligations have intensified concerns about its financial stability, complicating efforts to secure future financing and stabilize operations. The heightened attention from stakeholders adds pressure on Vietjet as it navigates this challenging period.
Expansion Plans Amid Financial Struggles
Despite these financial difficulties, Vietjet continues to pursue ambitious growth strategies. On June 16, 2025, the airline signed a Memorandum of Understanding with Airbus at the Paris Air Show to purchase 100 single-aisle A321neo aircraft, with an option for an additional 50. This agreement represents the largest aircraft order announced at the 2025 Paris Air Show, signaling Vietjet’s determination to expand its fleet and market presence even as it contends with significant debt.
The coming months will be pivotal for Vietjet as it seeks to resolve its financial obligations and restore confidence among investors and business partners.

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