(VOV) - The national flag carrier has borrowed US$100 million from Eximbank with a 10-year term to buy four Airbus A321s in 2012.
Vietnam Airlines achieves slow growth Direct air route links Buryatia to Vietnam Vietnam Airlines offers cheap air tickets These four planes are the first among the seven A321s that Vietnam Airlines will receive this year under a contract it has signed with the aircraft manufacturing firm Airbus.
According to the contract, Vietnam Airlines will buy another 19 planes from this firm.
The project to purchase the A321s is the first credit contract signed between the national airline and Eximbank.
The Chief Executive Officer (CEO) of Eximbank, Truong Van Phuoc, said the event has opened a new opportunity for long-term cooperation between the two businesses.
At the signing ceremony on May 31, Vietnam Airlines CEO Pham Ngoc Minh said that his company is totally confident in its financial capacity and ability to meet future commitments.
He explained that over the last two decades, the national carrier has always proved its financial prestige on both domestic and international markets and has never paid any loan late.
Vietnam Airlines is operating more than 80 air routes with over 300 daily flights to 20 domestic and 26 international destinations.
It plans to expand its fleet to 115 by 2015 and 170 by 2020.