Foreign banks fund Vietnam Airlines plane purchase

VGP – Three foreign banks in Việt Nam will jointly finance Việt Nam Airlines (VNA)’s plan to buy new eight Airbus A321-231S aircrafts.

May 24, 2011 8:56 PM GMT+7

Illustration photo

The three foreign banks, including Citibank, the Development Bank of Singapore (DBS), and the Hong Kong-Shanghai Banking Corporation (HSBC), inked a deal worth US $457 million on May 23.

The sum will include a credit of US $400 million provided by HSBC and Citibank and a US $50 million-commercial-grant by HSBC and Citibank.

The purchase is part of VNA’s plan to expand its fleet to 115 aircrafts in 2015 and 170 ones in 2020, to spread its wings farther.

By Thùy Dung