Vietnam Export Import Commercial Joint Stock Bank (Eximbank) and national flag carrier Vietnam Airlines on May 31 signed a ten-year loan contract worth US$100 million to buy four Airbus A321 aircraft in 2012.
Earlier, Vietnam Airlines signed an agreement with Airbus to buy 26 aircraft in the period of 2011-2014.
According to Director General of Vietnam Airlines Pham Ngoc Minh, these are the first four Airbus A321 planes to be handed over in 2012, in the process of upgrading the carrier’s fleet. Eximbank’s commitment to providing capital for Vietnam Airlines will help the corporation receive aircraft as scheduled to improve quality of services, expand flight networks and better meet the demand of transportation in regional and domestic flights, he added.
Eximbank Director General Truong Van Phuoc said this is the first contract between Eximbank and Vietnam Airlines. In future, the bank pledges to continue supporting credit capital for the long-term investment of Vietnam Airlines.
Eximbank has established banking relationships with more than 700 banks in 80 countries and territories in the world.
Vietnam Airlines now has 80 routes to 20 domestic and 26 international destinations with 300 flights each day. It plans to expand the number of aircraft to 115 by 2015 and 170 by 2020.