Eximbank lends $100 million to Vietnam Airlines for B787

The Vietnam Export Import Commercial Bank (Eximbank) signed a contract on April 22 providing $100 million in credit to the Vietnam Airlines Corporation (VAC) for the purchase of eight B787 aircraft.

VAC General Director Pham Ngoc Minh said that the carrier plans to receive the first airplanes in the second quarter of 2015 to replace some of its current Airbus A320 planes.

The fleet expansion will help the corporation maintain the quality of its service and extend its route system to ensure sustainable growth and meet customers’ growing demands.

The national flag carrier also signed an agreement with EximBank in 2012 for a $100 million loan to help it purchase four Airbus A320 aircraft.

Vietnam Airlines is now operating more than 300 flights a day on 80 routes to 20 domestic and 26 international destinations.

It plans to increase its fleet to 155 planes by 2015 and 170 by 2020.

The new aircraft to be purchased include the Boeing 777, 787, and 787-9, as well as the Airbus A330.

Source VOV