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Vietnam Airlines airs new jets as part of expansion

Update: March, 12/2014 - 08:34

HA NOI (VNS) — The national flag carrier Vietnam Airlines on Monday received two new Airbus A321 aircraft at Noi Bai International Airport.

As part of its fleet expansion plan, the carrier in 2007 and 2009 signed contracts with Airbus to purchase a total of 26 Airbus A321 planes for delivery during the 2011-2015 period. It has received 21 planes thus far.

The airlines operates a young fleet of 83 aircraft, which includes mostly Boeing 777, Airbus A330 and Airbus A321.

HSBC was the lead arranger for the US$112 million credit for the purchase, with a loan from Deutsche Pfandbriefbank AG.

The transaction was supported by Euler Hermes, the global credit insurance company based in Germany, and guaranteed by Viet Nam's Ministry of Finance.

Pham Ngoc Minh, president and CEO of Vietnam Airlines said: "The agreement for the purchase of two A321 aircraft is really a remarkable deal which enhances our operation efficiency on routes worldwide."

"The new two aircraft will support us to carry out our fleet expansion, meeting the demand for passengers and cargo transport in the long run," said Minh.

Previously in 2009, HSBC acted as co-financier in a multi-bank deal providing financing of US$120 million to purchase six ATR72-500s, and in 2011 it acted as joint mandated lead arranger for US$447 million in financing to purchase six Airbus A321s.

Vietnam Airlines became an official member of SkyTeam Alliance on June 10, 2010 and also the first representative of the alliance in Southeast Asia. — VNS

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