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Banks to finance new Vietnam Airlines aircraft
A consortium of local and international banks has signed agreements with the Vietnam Airlines Corporation to finance six new airplanes worth US$120 million from France-based manufacturer ATR.
The financing package will be provided by HSBC, Credit Suisse and Vietnam Technological and Commercial Joint-Stock Bank or Techcombank, as determined by a competitive bid.
HSBC and Credit Suisse will provide offshore loans accounting for 85 percent of the aircraft price with the support of export credit agencies Coface of France and Sace of Italy, while the remaining 15 percent will be financed by Techcombank.
The aircraft, due for delivery between June and February 2010, will replace the airline’s first generation ATR 72-200 planes used for domestic short haul routes.
Contracts to purchase six additional aircraft were signed last December in addition to five ATR 72- 500s already on order. The national carrier will expand and standardize its ATR 500 series fleet to 14 by 2010. Pham Ngoc Minh, the carrier’s president and CEO said with this financing package, Vietnam Airlines has assured the completion of its ATR fleet renewal and expansion plan.
Minh Quang
thanhnien
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