VietJet faces global asset freeze amid US$250 million debt dispute

The United Kingdom High Court has ordered a global freeze on the assets of Vietnamese low-cost carrier VietJet. The ruling comes amid a legal battle with FW Aviation, an aircraft leasing company controlled by the investment fund FitzWalter Capital, which is seeking to recover approximately US$250 million (AUD$360 million) related to the use of four Airbus A321 aircraft.

The dispute stems from unpaid lease agreements dating back to the COVID-19 lockdowns in October 2021. UK courts have previously issued three judgments against the airline totaling various amounts across 2024 and 2025, with only a partial payment of US$2 million recorded.

Justice Pushpinder Saini granted the asset freeze after finding a “risk of dissipation,” suggesting the airline might attempt to hide or transfer assets to avoid enforcing the judgments. This legal development is expected to complicate VietJet’s efforts to expand into the Australian domestic aviation market.