Wording of the impending deal, which confirms a Reuters report from last week, comes as U.S. President Joe Biden visits Hanoi to boost ties with the former foe.
The two airlines, Vietnam Airlines and Boeing, did not immediately respond to requests for comment.
The deal is up to $7 billion at list prices, and usually companies that buy in bulk get discounts, the person familiar with the talks did not comment on this. The sale of the 737 MAX planes has been made possible by a deal with Vietnam Airlines' rival VietJet.
According to the International Air Transport Association, Vietnam was the fifth fastest-growing airline market in 2022 when it lifted COVID-19 travel restrictions. According to the International Air Transport Association, it expects to serve 150 million air transport passengers by 2035. In 2018, and 2019, two 737 Max jets were grounded worldwide, resulting in two fatal crashes in Indonesia and Ethiopia. The planes returned to service at the end of 2020. In the second quarter of this year, Vietnam Airlines recorded a net loss of 1.3 trillion dong, its 14th quarter in the red, its financial statements showed. The airline has said that the losses were because of higher fuel prices and other financial risk factors. Boeing and other U.S. defense firms have been discussing the possible sale of military equipment, including drones and helicopters, with Vietnamese authorities. Boeing, based in Arlington, Virginia, has six suppliers in Vietnam and is striving to enhance their capabilities.