UK court issues worldwide asset freeze against VietJet over leasing debt

VietJet Aviation has been hit with a worldwide asset-freezing order from the UK Commercial Court, granted on 15 October 2026. Aircraft finance firm FW Aviation Holdings is pursuing enforcement of unpaid judgments exceeding $250 million. The court concluded there was a real risk the airline could move assets beyond the reach of creditors while recovery efforts continue. The order follows earlier rulings in the lessor's favour.

The underlying dispute concerns lease agreements for four Airbus A321 aircraft delivered to the carrier in 2018 and 2019 under Japanese Operating Leases with Call Options. The leases were terminated in October 2021 and the lessor sued for the money it said it was owed. In April 2025 VietJet was ordered to pay about $181.5 million in termination payments and outstanding rent. Interest and costs later pushed the total past $250 million. All four aircraft were recovered by December 2022 and exported, but that did not clear the remaining debt.

The latest ruling also looked at agreements between VietJet and Angelica Holding Limited, a related company. Under those arrangements the airline transferred almost all the value of its future aircraft order book, calculated as of December 2024, to Angelica. The judge questioned what VietJet stood to receive in return, calling the expected payments wholly illusory, and raised concerns about some evidence the airline had previously provided.