Vietnam Airlines "joins hands" with ING bank to arrange $1.5 billion in capital financing to promote strategic projects

In Paris (France), Vietnam Airlines and ING Bank signed a memorandum of understanding on financial cooperation, with a funding scale of up to 1.5 billion USD.

This landmark relationship will serve key investment projects, enhance competitiveness and expand Vietnam Airlines ' international flight network in the coming period.

The event took place under the witness of Prime Minister Pham Minh Chinh at the Vietnam-France Business Forum on June 11, within the framework of the Vietnamese Government delegation's working trip with partners in France.

Through this cooperation, ING Bank reaffirms its strong interest in providing loans for Vietnam Airlines' strategic projects, aiming to improve operational efficiency and expand its international flight network. In addition, ING also expressed its goodwill to accompany, advise and arrange capital to support Vietnam Airlines in the future.

Mr. Le Duc Canh, Deputy General Director of Vietnam Airlines shared: “We are pleased to cooperate with ING, a leading European financial institution with a global network and extensive experience in the field of aviation finance, as well as cooperation with prestigious export credit organizations in the world. This is a large-scale sponsorship, demonstrating the international partner's trust in Vietnam Airlines' management capacity, financial transparency and long-term development strategy. This agreement also opens up opportunities to access sustainable and strategic capital sources, helping Vietnam Airlines continue to expand its global flight network, contributing to consolidating the airline's position in the international market.”

Also at this Vietnam-France Business Forum, Vietnam Airlines and Safran Electronics & Defense Company under the Safran Group signed a Memorandum of Understanding on leasing a flight data analysis system for the period 2026–2030.

“Vietnam Airlines is a key partner driving global connectivity and growth in the Asia region. We are proud to strengthen our relationship with Vietnam Airlines as a strategic and trusted financial partner. This MOU not only demonstrates our shared ambition to expand our global reach, but also reaffirms our commitment to responsible financing to support the long-term and sustainable growth of the aviation industry,” said Jason Ong, Country Manager for ING Vietnam and Indonesia.

This event marks an important milestone in the long-standing relationship between Vietnam Airlines and ING. Previously, in 2015, ING also arranged a loan worth 570 million USD to finance 4 wide-body aircraft for Vietnam Airlines. During the Covid-19 period, ING coordinated with related parties to restructure loans with a total value of about 80 million USD, contributing to reducing cash flow pressure and supporting Vietnam Airlines to overcome difficult times.

Also at this Vietnam-France Business Forum, Vietnam Airlines and Safran Electronics & Defense Company under the Safran Group signed a Memorandum of Understanding on leasing a flight data analysis system for the period 2026-2030. This is a solution to help the airline comply with flight safety regulations for the entire fleet of aircraft in use.

The flight data analysis system enables the detection of situations that pose a safety risk, non-compliance with aircraft limits and standard operating procedures. At the same time, the system helps monitor and continuously measure to identify trends in flight operations, support incident investigations and maintain aircraft reliability. The implementation of this solution contributes to improving the level of flight safety for pilots, supporting preventive maintenance, thereby improving the operational efficiency of Vietnam Airlines' fleet.

The agreements signed this time mark an important step forward in the airline’s journey of digital transformation and sustainable development. This is not only an internal effort to enhance competitiveness, but also clearly demonstrates Vietnam Airlines’ pioneering role in connecting Vietnam with the world. At the same time, these agreements also contribute to strongly promoting the international integration process of the national aviation industry, helping Vietnam Airlines become a leading brand in the region and the world.

MINH TUAN

Source: https://nhandan.vn/vietnam-airlines-bat-tay-ngan-hang-ing-thu-xep-khoan-tai-tro-von-15-ty-usd-thuc-day-cac-du-an-chien-luoc-post886115.html