Vietcombank provides Vietnam Airlines $160 million

December 25, 2014 | 10:39

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The Bank of Foreign Trade of Vietnam (Vietcombank) and Vietnam Airlines signed a credit agreement worth $160 million on December 18 to help the national flag carrier prepay for 8 Boeing BB787-9 aircraft and 10 A350-XWB aircraft.

Photo source Vnexpress.net

Vietcombank is both the largest local settlement bank and creditor of Vietnam Airlines at present, and has been involved in a number of aircraft leases such as the previous deal to get 26 Airbus A321s.

The deal between the two is part of a chain of important deals that have occurred since Vietcombank became one of the biggest shareholders of Vietnam Airlines. On November 15 the 23^rd Airbus A321 was added to Vietnam Airlines’ domestic fleet thanks to the bank’s funding.

On November 14, Vietcombank joined Vietnam Airlines with a 46 per cent stake.

Speaking at the event, deputy governor of the State Bank of Vietnam Nguyen Thi Hong said the co-operation between the two businesses would make a significant contribution to the economic development of Vietnam.

By By Khanh Oanh

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