The English High Court’s Commercial Court has imposed a worldwide freezing order on VietJet Aviation over more than US$250 million in unpaid aircraft-leasing judgments. The order, sought by aircraft-finance company FW Aviation Holdings 1, covers assets linked to VietJet’s Airbus A321 fleet, future A330-900 and A321neo deliveries, engines, maintenance reserves and ticket proceeds, while allowing normal airline operations to continue.
The dispute concerns four Airbus A321s delivered to VietJet in 2018 and 2019 under Japanese Operating Leases with Call Options. The leases were terminated in October 2021, and FW Aviation recovered the aircraft by December 2022. A High Court judgment in April 2025 awarded approximately US$181.5 million in termination payments and unpaid rent. Interest and legal costs subsequently increased the outstanding debt beyond US$250 million.
The court found solid evidence of a real risk that VietJet could move or dissipate assets beyond creditors’ reach. The order applies up to US$251.6 million and includes VietJet’s leased fleet, undelivered aircraft, cabin equipment, engines on order, pre-delivery payments, lease deposits and maintenance reserves. Court approval is required for certain transactions involving aircraft orders, reserves and deposits held outside Vietnam.
The court also appointed receivers by way of equitable execution over a broad range of assets, according to FW Aviation’s counsel. The measures do not cancel VietJet’s aircraft orders or automatically affect its flights; the airline may continue operating in the ordinary course of business.