Vietnam Airlines to Get US$120M from Foreign Banks To Buy 6 More Aircraft
Vietnam Airlines signed Thursday a credit agreement worth US$120 million with HSBC, Credit Suisse and Techcombank to buy six short-haul ATR 72-500 planes from French manufacturer ATR.
HSBC and Credit Suisse will cover up to 85 per cent of the credit contract, which will be guaranteed by Coface, the export credit agency acting on behalf of the French government and Sace, the Italian export credit agency.
Vietnam’s bank, Techcombank, will lend the remainder as a commercial credit to the airline.
Pham Ngoc Minh, Vietnam Airlines' president and chief executive officer said in a news release that the airline has assured the completion of its ATR fleet renewal and expansion plan.
Vietnam Airlines has recently announced to open four more short-term air routes.
These ATR 72-500 turboprop aircrafts are expected to be delivered between June 2009 and February 2010.
ATR, based in Toulouse, France, is a joint venture between Alenia Aeronautica and European aerospace giant EADS. (Labor, Vietnam Economic Times)
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