VietJet secures $35.5 million loan from Vietnamese bank to expand fleet

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The loan is part of a $50 million package the bank agreed to in principle last year that will run from 2015-2020.

The funding comes just days after the ambitious airline inked a deal to purchase 100 aircraft worth $11.3 billion from U.S. giant Boeing during President Obama’s visit to Vietnam.

However, VietJet will use this loan to buy an Airbus A320.

According to 2015 data from Airbus, the price for an A320 ranges from $74.3 million to $124.4 million, depending on the model. The A320 single-aisle jetliner family, including the A318, A319, A320 and A321, is the world’s best-selling single-aisle aircraft family. It is used for a range of services including short-haul hops and intercontinental routes.