Vietnam Airlines "joins hands" with Vietcombank to implement strategic industry project...

Yesterday, April 23, 2025, Vietnam Airlines Corporation and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) officially signed a Memorandum of Understanding (MOU) on cooperation in arranging capital for the investment project of 50 narrow-body aircraft.

The event marks an important step in Vietnam Airlines' fleet modernization strategy, while demonstrating the key role of two leading state-owned enterprises in accompanying the implementation of key national projects, serving the strategy of developing Vietnam's transport infrastructure and economy.

Mr. Le Quang Vinh - Member of the Board of Directors, General Director of Vietcombank (right) and Mr. Le Hong Ha - Member of the Board of Directors and General Director of Vietnam Airlines (left) representing the two units completed the signing ceremony of the memorandum of understanding in the presence of delegates.

Developing strategic fleet with financial support from major banks

According to the Memorandum of Understanding, Vietcombank will participate in arranging capital for Vietnam Airlines' investment project of 50 narrow-body aircraft, including prepayments and long-term loans from 2026 to 2032. With experience as a credit focal bank for many key transportation projects, Vietcombank will closely coordinate with Vietnam Airlines to build an optimal financial structure, ensuring long-term efficiency for this large-scale investment project.

As part of the fleet development strategy for the period 2025–2035, with a vision to 2040, the plan to invest in 50 narrow-body aircraft is one of the important pillars to help Vietnam Airlines increase its operational capacity, modernize its fleet and expand its scale of operations. This investment aims to expand its short- and medium-haul flight network in key markets such as Southeast Asia, Northeast Asia and domestic markets – where transportation demand is growing rapidly and competition is increasingly fierce – while contributing to improving operational efficiency, saving fuel, reducing emissions and realizing the long-term, sustainable development goals of the National Airline.

Mr. Dang Ngoc Hoa - Member of the Government Party Committee, Party Secretary, Chairman of the Board of Directors of Vietnam Airlines spoke at the event.

The expansion of the narrow-body fleet also helps Vietnam Airlines improve its operational flexibility, while providing more product and service options for passengers. This is a testament to the national airline’s commitment to improving customer experience, consolidating its competitive position and expanding Vietnam’s footprint in the international aviation market.

Key businesses join hands to implement strategic projects

As two state-owned enterprises playing a leading role in key sectors of the economy, Vietnam Airlines and Vietcombank have been demonstrating their pioneering role through specific activities, making practical contributions to the country's sustainable development and integration.

Mr. Nguyen Thanh Tung - Member of the Government Party Committee, Party Secretary, Chairman of Vietcombank Board of Directors spoke at the event.

The national airline holds the position of an important aviation bridge between Vietnam and the world. With a wide flight network and affirmed international exploitation capacity, Vietnam Airlines constantly opens new and expands routes to leading economic, cultural and tourist centers in the region and the world. Thereby, the airline contributes to promoting trade, tourism and enhancing the position of Vietnam as a destination on the international aviation map.

Vietcombank is the leading commercial bank in Vietnam, playing a key role in providing credit and financial solutions for many key national projects, including the aviation infrastructure sector. With experience in implementing large projects and the ability to provide flexible financial structure advice, Vietcombank has accompanied Vietnam Airlines in fleet development programs for over a decade.

Vietnam Airlines and Vietcombank leaders take souvenir photos after signing

The cooperative relationship between the two enterprises has been affirmed through major projects such as: purchasing new wide-body fleet Airbus A350, Boeing 787, expanding narrow-body fleet Airbus A321 and now continuing to expand with the project of investing in 50 narrow-body aircraft. The close coordination between Vietnam Airlines and Vietcombank not only demonstrates the implementation capacity of state-owned enterprises, but also demonstrates the spirit of initiative, professionalism and leading role in national development initiatives.

Vietnam Airlines – Vietnam National Airlines – is the main force in the field of air transport in Southeast Asia, currently operating nearly 100 routes connecting 22 domestic destinations and 30 international destinations in 18 countries and territories.

Joint Stock Commercial Bank for Foreign Trade of Vietnam - Vietcombank (VCB) was established and put into operation on April 1, 1963. During more than 60 years of establishment and development, Vietcombank has always affirmed its pioneering position, playing a leading role in the banking system, making important contributions to the national economy and the development of the country; gradually reaching out to the region and the world. To date, Vietcombank has a total asset size of over 2 million billion VND; the largest charter capital and equity among banks in Vietnam.

Source: https://baodaknong.vn/vietnam-airlines-bat-tay-vietcombank-trien-khai-du-an-chien-luoc-nganh-hang-khong-250458.html