Vietjet Air signs $140 million loans for fleet expansion

By Nguyen Quy   November 20, 2019 | 05:07 am PT
Vietjet Air signs $140 million loans for fleet expansion
A Vietjet plane prepares to land at Tan Son Nhat Airport in Ho Chi Minh City. Photo by Shutterstock/Hoang Minh.
Vietjet Air has signed a syndicated loan agreement worth $140 million with three foreign banks to fund its aircraft purchase plans.

The lenders were South Korea’s Woori Bank and KEB Hana Bank; and the Industrial and Commercial Bank of China, the airline said in a statement Tuesday.

The low-cost airline is eyeing new routes to the Middle East, Eastern Europe and Australia using the 20 Airbus A321XLR aircraft it ordered last month.

The A321XLRs are scheduled to be delivered from 2023 and the carrier plans to add 10 international routes every year, Thao said.

Vietjet currently flies 40 domestic and 66 international routes. It operates 385 flights daily within Vietnam and to places such as Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar, Malaysia and India.

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