Wednesday, February 19 2020


National carrier gets loan for new planes

Update: December, 20/2014 - 09:51
A Viet Nam Airlines's aircraft at the Noi Bai International Airport in Ha Noi. Vietcombank will grant a loan of US$160 million to the national carrier for buying more aircraft. — VNA/VNS Photo Huy Hung

HA NOI (VNS)— Vietcombank will grant a credit loan of US$160 million to the national carrier Viet Nam Airlines (VNA) to buy aircraft next year.

This was announced at the ceremony held for the signing of the agreement between the two parties on Thursday. The loan will be used to buy eight Boeing B787-9 and 10 Airbus A350-XWB aircraft.

Vietcombank became one of VNA's largest investors on November 14, when the company launched an initial public offering on the HCM City Stock Exchange.

The Boeing B787-9 Dreamliner and Airbus A350 – 900 XWB have modern and wide bodies designed for and made of advanced materials to minimise fuel consumption and maintenance costs, and improve their economic benefits.

The two kinds of planes will be put into operation in Viet Nam by 2015. They will play a strategic role in the carrier's plan to launch long international routes.

On November 15, VNA received an Airbus A321 at the Noi Bai International Airport, the 23rd of a total 26 Airbus A321s that VNA is buying during the 2011-15 period.

This is the third aircraft that has been paid by a loan from Vietcombank.

Chairman of Vietcombank's Executive Board Nghiem Xuan Thanh said that being a leading commercial bank in Viet Nam, Vietcombank had for many years seen VNA as one of its largest clients, and both shared a traditional and long-term relationship.

Vietcombank is the domestic bank that has granted the largest loan to VNA, especially for projects to develop an aircraft fleet.

General Director of VNA Pham Ngoc Minh said that the firm would begin renewing its aircraft fleet with Boeing 787-9s and Airbus A350-900s from mid-2015.

"With the successful signing ceremony held today, we believe that the co-operation between VNA and Vietcombank will continuously develop, and ensure the essential interests of the parties," said Minh.

The airline operates a young fleet of 83 aircraft, which includes mostly Boeing 777s, Airbus A330s and Airbus A321s.

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

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