Petro Vietnam Finance Corporation (PVFC) and Cathay United Bank (CUB) will co-fund a 7 million USD project of the national flag carrier Vietnam Airlines to buy spare engines for its Airbus A321 fleet.

Vietnam Airlines plans to buy 10 Airbus A321 aircraft as part of an ambition to increase its fleet to 115 planes by 2015 and 170 by 2020, most of which would be Boeing 777, Airbus A330, A321/320s/A350XWB and Boeing 787-9.

PVFC, a member of Vietnam National Oil and Gas Group has a charter capital of 6,000 billion VND and total assets of 90 trillion VND.

CUB, formerly known as United World Chinese Commercial Bank, is considered the most effective bank in Taiwan , with 55 billion USD in assets.

Earlier on May 2011, Vietnam Airlines also received a credit of over 7 million USD from OceanBank to buy V2533-A5 spare engines for Airbus A321./.