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Lao Airlines' new planes insured
Two new Airbus A320 airplanes owned by Lao Airlines are now covered under aviation insurance provided by the Lao-Viet Insurance Company (LVI).
An insurance agreement was signed in Vientiane last Friday between Lao Airlines President Dr Somphone Douangdara and LVI General Manager Mr Vu Minh Hai.
Dr Somphone said the two Airbus A320s will be used on international routes offered by Lao Airlines.
“We hope this insurance will help to attract more customers to Lao Airlines,” he said.
The new 142-seater planes will initially be used on the soon-to-be-opened Vientiane to Singapore sector, with over 50 percent of seats booked on some flights. The planes will also be used on planned future routes to the Republic of Korea and Japan, he added.
Lao Airlines signed a purchase agreement with the Airbus-An Eads Company of France last August for the new aircraft.
The purchase agreement followed a US$71 million loan agreement between the Banque pour le Commerce Exterieur Lao Public (BCEL) and Lao Airlines. The bank decided to partially finance the airline's purchase of the new aircraft to spur growth amid growing competition in the aviation market.
The Bank of the Lao PDR will provide an additional US$20 million to the national airline to complete the US$91 million acquisition and increase the state-owned enterprise's capacity to offer more flights.
Lao Airlines currently has eight aircraft - four MA60 and four ATR72-500 - which fly on domestic and international routes.
The airline offers flights between Vientiane and Luang Prabang, Xieng Khuang, Oudomxay, Luang Namtha, Bokeo, Savannakhet and Champassak provinces. International destinations include Cambodia, China, Thailand and Vietnam.
LVI was established in June 2008 based on the special relationship of friendship and cooperation between Laos and Vietnam.
LVI is a joint venture between BCEL, the Lao-Viet Joint Venture Bank and Bank for Investment and Development of Vietnam.
vientiane times
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