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PVFC and CUB to finance Vietnam Airlines

Update: February, 07/2012 - 16:01

HA NOI – PetroVietnam Finance Corporation (PVFC) and Cathay United Bank (CUB) will loan US$7.225 million to Vietnam Airlines to develop operations, according to the carrier.

Vietnam Airlines intends to purchase standby engines for Airbus 321, part of a 10-plane investment project. This is expected to help the firm take initiative in operating its flights, maintaining service quality and ensuring business stability.

As planned, Vietnam Airlines will expand its squadron to 115 planes by 2015 and 170 by 2020, mainly with aircrafts of the following types: Boeing 777; Airbus A330, A321, A320, A350 XWB; and Boeing 787-9. These are technologically advanced, fuel efficient and eco-friendly.

Last May, Vietnam Airlines received a loan of more than $7 million from the Ocean Bank to buy standby engines made by the International Aero Engine AG for Airbus 321. -- VNS

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