Jetstar Pacific leases two ex-Tiger A320s, eyes five more aircraft

Jetstar Pacific, the Vietnamese low-cost carrier, is resuming (19-Jun-2012) its fleet renewal programme with the lease of two ex-Tiger Airways A320s. Jetstar Pacific currently operates a fleet of two A320s and five Boeing 737-400s. Jetstar Pacific stated two additional A320s will be delivered in Jul-2012 from ACG. The aircraft are currently being overhauled in Singapore, where they were previously leased to Tiger Airways. Jetstar Pacific is also now seeking to lease two additional A320s for delivery in 2H2012 and three additional A320s for delivery in 2013. The first three of these five additional A320s will replace Jetstar Pacific's last 737-400s, which are due to be returned to leasing companies in 2H2012 and 2013, while the other two A320s are to be acquired for growth. Jetstar Pacific's currently business plan envisions growth of two aircraft per year starting in 2013, with most of the capacity expansion to be allocated to international services which the carrier expects will be resumed next year. Australia's Jetstar Group now owns a 30% stake in Jetstar Pacific, which currently only operates domestically, while a majority 70% stake was transferred earlier this year by the Vietnamese Government to Vietnam Airlines. As its two owners do not have any A320s available that meet its requirements, Jetstar Pacific is now relying on the leasing market to secure its future aircraft.