Representatives of both sides exchanged the MoU at a signing ceremony in New York. - Photo of Vietnam Airlines

NEW YORK — Vietnam Airlines on Wednesday signed a Memorandum of Understanding (MOU) with Citibank, N.A., securing a funding commitment exceeding US$560 million to support its strategic investment initiatives.

The ceremony was witnessed by Việt Nam’s Deputy Prime Minister Hồ Đức Phớc, as part of the Vietnamese Government delegation’s official visit to the US. The visit is aimed at strengthening bilateral trade relations and facilitate funding for key investment projects by State-owned enterprises.

Under the agreement, Citibank, N.A. has committed to providing financial support for Vietnam Airlines’ investment projects aimed at strengthening the airline’s operational capacity and expanding its international route network in the years ahead.

Beyond funding, Citibank will also deliver strategic advisory services to help Vietnam Airlines build a robust financial framework, ensuring efficient investment and effective risk management.

Collaborating with leading global financial institutions—especially those based in the US — is a key pillar of Vietnam Airlines’ long-term strategy to enhance competitiveness, modernise its fleet and stay aligned with evolving global aviation trends.

Executive Vice President of Vietnam Airlines, Lê Đức Cảnh, said: “Today’s agreement represents a pivotal milestone in advancing our strategic goals. Partnering with globally recognised financial institutions like Citibank not only grants us access to high-quality capital but also paves the way for deeper integration into the global value chain.”

Ramachandran A.S., the Citi Country Officer in Việt Nam said: “For more than 30 years, Citibank has drawn on its global aviation expertise to support Vietnam Airlines. We are excited to strengthen this long standing partnership and contribute to Vietnam Airlines’ mission of connecting Việt Nam with the world. Citibank remains deeply committed to supporting Việt Nam’s dynamic growth and enhancing economic and cultural ties between Việt Nam and the US.”

Following the signing, Vietnam Airlines was set to meet with the Export-Import Bank of the US (EXIM) in Washington, D.C., to explore potential loan guarantee opportunities. — VNS