Vietnam Airlines signs over $560 million deal with Citi Bank, paving the way for Vietnam-US financial cooperation

NDO - Vietnam Airlines Corporation (Vietnam Airlines) and Citi Bank - one of the leading financial institutions in the United States - have signed a Memorandum of Understanding (MOU) on a commitment to provide capital worth 560 million USD or more for Vietnam Airlines' strategic investment projects.

The signing ceremony took place under the witness of Deputy Prime Minister Ho Duc Phoc within the framework of the working trip of the Vietnamese Government Delegation to work with partners in the United States on enhancing bilateral trade cooperation, including the field of capital mobilization for key investment projects of state-owned enterprises.

Accordingly, Citi Bank is ready to consider providing funding for investment projects of Vietnam Airlines, aiming to improve its operational capacity and expand its international flight network in the coming period. Along with the financial commitment, Citi Bank will also provide strategic consulting support to Vietnam Airlines in the process of working with relevant partners to build a suitable financial structure, ensuring investment efficiency and risk management.

Finding and establishing cooperative relationships with the world's leading financial institutions, in which US financial institutions are considered to play a very important role in Vietnam Airlines' long-term development strategy, to enhance competitiveness, modernize the fleet and keep up with the development trends of the global aviation industry.

Establishing cooperative relationships with the world's leading financial institutions, including US financial institutions, is considered to play a very important role in Vietnam Airlines' long-term development strategy.

Speaking at the signing ceremony, Mr. Le Duc Canh, Deputy General Director of Vietnam Airlines, commented: “This event is an important first step in the process of realizing Vietnam Airlines’ strategic goals. Cooperating with prestigious international financial institutions such as CitiBank not only helps Vietnam Airlines access high-quality financial resources, but also opens up opportunities for deeper connections with the global value chain.”

Citi is the leading banking partner for businesses and institutions with cross-border needs, a global leader in wealth management and a leading consumer bank in the U.S. Citi operates in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

As planned, after the signing ceremony with CitiBank, Vietnam Airlines will continue to work with US EXIM (US Export-Import Bank) on April 10, 2025 in Washington DC to discuss the mechanism for granting credit guarantees for the Corporation's loans.

In 2025, Vietnam Airlines will open and restore 15 international routes to key markets such as Italy, Russia, Denmark, China, India, Japan, Korea, UAE, etc. This year also marks the 30th anniversary of the establishment of Vietnam Airlines Corporation (1995-2025) - a journey of remarkable development, making a solid mark in its role as Vietnam's national airline and Asia's leading airline brand.

In the context of the global aviation industry recovering strongly and entering the digital transformation phase, Vietnam Airlines continues to demonstrate its pioneering role - a symbol of a dynamic, integrated and far-reaching Vietnam. Vietnam Airlines is the main force in air transport in Southeast Asia, currently operating nearly 100 routes to 22 domestic destinations and 30 international destinations in 18 countries.

Vietnam Airlines is the main force in air transport in Southeast Asia, currently operating nearly 100 routes to 22 domestic destinations and 30 international destinations in 18 countries.

Source: https://nhandan.vn/vietnam-airlines-ky-thoa-thuan-hon-560-trieu-usd-voi-ngan-hang-citi-mo-duong-hop-tac-tai-chinh-viet-nam-hoa-ky-post871300.html