VietJetAir (VJ, Hanoi Noi Bai International) has signed a Memorandum of Understanding with Airbus (AIB, Toulouse Blagnac) for up to 92 A320 Family aircraft with plans to lease eight more from third party lessors, it has been announced. The purchase agreement covers 42 A320neo, 14 A320ceo and six A321ceo, plus 30 purchase rights for the A320 Family. VietJetAir is an existing A320 operator, with eight leased aircraft already in service. The carrier took delivery this week of its ninth A320, delivered new from Airbus via the US leasing company AWAS. Speaking during the deal's announcement, Mr. Luu Duc Khanh, the Managing Director of VietJetAir, said it would be financed by foreign bank loans with the first two aircraft to be delivered in the fourth quarter of 2014 followed by between five and 10 jets each year until 2022. Despite being only twenty-odd months old, the Vietnamese LCC intends to use the additional jets to expand regionally with a possible tie up with an undisclosed Myanma carrier also being negotiated. According to Reuters, the joint venture would likely mimic a similar initiative with Thailand's Kan Air (KND, Chiang Mai) which will give rise to Thai VietJetAir (VZ, Bangkok Suvarnabhumi) early next year.