Novus Aviation Capital has signed an MoU for financing and leasing deals with VietJet, valued at $1.3 billion.

Over the next 18 months, the Dubai lessor will provide operating and finance leases for 10 single-aisle aircraft, taken from the Vietnamese carrier’s orderbook.

Cirium’s Fleets Analyzer shows the airline has orders for 113 Airbus 321neos and 200 Boeing 737 MAX jets. It currently operates 68 narrow-body jets, comprising 25 A320ceos, 34 A321ceos, and nine A321neos.

VietJet operates 119 routes out of Vietnam to destinations in Southeast Asia and Northeast Asia. It recently took delivery of its fifth aircraft through Novus, an A321neo.

Hani Kuzbari, managing director at Novus, calls Vietnam “one of the most interesting markets for our industry,” with a growing middle class and an increasingly deregulated aviation sector.

“This MoU with VietJet is an integral part of our business strategy to accelerate company growth and invest in promising markets,” Kuzbari adds.

“It is a testament to the wide range of products we offer our airline customers, including – in this case – operating lease and high loan-to-value finance lease.”