Milbank Advises VietJet on Landmark Transaction to Buy 100 Boeing Planes For $11.3 Billion

HANOI, Vietnam and SINGAPORE, May 23, 2016 -- Milbank, Tweed, Hadley & McCloy LLP advised Vietnam's VietJet on its agreement to purchase 100 Boeing BA.N 737 MAX 200 jets worth $11.3 billion. The deal, signed during President Obama's visit to Vietnam, marks a landmark transaction for Vietnam as the largest commercial aircraft order even in the country.

The Milbank deal team was led by Singapore partner Paul Ng and associates David Hon and Audrey Wang.

"We are delighted to have advised VietJet on this complex acquisition of a new variant of the popular Boeing 737 which is to come into service in the future," said Mr. Ng. "We are honored to be a part of this landmark deal."

Milbank also advised VietJet on its $3.04 billion deal for engines made by Pratt & Whitney, a unit of United Technologies UTX.N, to power 30 Airbus A321 planes.

The firm's Aviation Practice Group was recently recognized by AirFinance Journal for twelve separate "Deals of the Year." The firm's global practice was lauded for playing a pivotal role on landmark aviation transactions across Asia, Middle East, Europe, North America and Latin America.

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Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC. Milbank's lawyers collaborate across practices and offices to help the world's leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.

From: Jocelyn De Carvalho, Public Relations Manager, +1.212.530.5509 jdecarvalho@milbank.com

SOURCE Milbank, Tweed, Hadley & McCloy LLP