Vietnam Airlines, the national air carrier, and a consortium of insurers in Hanoi have signed a 2015–16 insurance contract worth 6 billion USD.

The insurers, PetroVietnam Insurance Corporation (PVI), the Vietnam National Aviation Insurance Company (VNI) and Bao Viet Insurance Company, will provide aviation insurance to the entire fleet of Vietnam Airlines, Jetstar Pacific Airlines and Vietnam Air Service Company for their worldwide flights.

The contract, signed on December 26, will also include aircraft body insurance and liability insurance for passengers, cargo and war risk.

General Director of Vietnam Airlines Pham Ngoc Minh said the cooperation between the carrier and the PVI–VNI–Bao Viet consortium will not only cater to the best interests of the participants but will also provide safety precautions for the passengers.

"Along with the investment to develop the fleet and service quality to become one of the leading air firms in the region, the guarantee provided by three of Vietnam's prestigious insurers will give passengers more reasons to consider Vietnam Airlines as an option," explained Minh.

Vietnam Airlines became an official member of the SkyTeam Alliance on June 10, 2010. It is also the first representative of the alliance in Southeast Asia. The firm has more than 300 flights per day, with 96 air routes to 21 domestic destinations and 29 international destinations.

The firm has a fleet of 82 modern planes, which include the Boeing 777, Airbus A330 and Airbus A321. It aims to expand the fleet by acquiring technologically advanced planes such as the Airbus A350XWB and Boeing 787-9.-VNA