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Vietnam Airlines secures 1.5 billion USD in funding from ING Bank for strategic expansion

This partnership underscores ING’s strong commitment to financing Vietnam Airlines’ long-term growth.

The signing ceremony is witnessed by Prime Minister Pham Minh Chinh. (Photo: VNA)
The signing ceremony is witnessed by Prime Minister Pham Minh Chinh. (Photo: VNA)

Paris (VNS/VNA) - Vietnam Airlines and ING Bank have signed a Memorandum of Understanding (MoU) for bilateral financial cooperation, securing capital funding of up to 1.5 billion USD.

The signing ceremony took place during the Vietnam–France Business Forum and was witnessed by Prime Minister Pham Minh Chinh.

This partnership underscores ING’s strong commitment to financing Vietnam Airlines’ long-term growth. The bank reaffirmed its intention to provide funding for the carrier’s strategic projects aimed at improving operational efficiency and expanding international connectivity. ING also expressed its readiness to offer advisory support and capital structuring services to assist the airline’s future development.

Le Duc Canh, Deputy CEO of Vietnam Airlines, remarked: “We are delighted to partner with ING, a leading European financial institution with deep expertise in aviation finance and a robust global network. This major funding arrangement is a strong vote of confidence from international partners in Vietnam Airlines’ operational capabilities, financial transparency, and long-term vision. It also provides access to sustainable, strategic capital sources that will empower us to further expand our global footprint and strengthen our position in the international aviation market.”

Jason Ong, Country Manager of ING Vietnam and Indonesia, stated: “Vietnam Airlines plays a vital role in driving global connectivity and regional economic growth across Asia. We are proud to deepen our relationship with the airline as a trusted and strategic financial partner. This MoU reflects our shared ambition to broaden international reach while affirming our commitment to responsible financing that supports sustainable, long-term development in the aviation sector.”

This agreement marks a significant milestone in the ongoing partnership between the two organisations. In 2015, ING arranged a 570 million USD loan to finance four wide-body aircraft for Vietnam Airlines. During the COVID-19 pandemic, ING also worked with stakeholders to restructure approximately 80 million USD in loans for Vietnam Airlines, helping to ease financial pressure and support the airline through a period of unprecedented disruption.

In a separate development at the Vietnam–France Business Forum, Vietnam Airlines also signed an MoU with Safran Electronics & Defense, a subsidiary of the Safran Group, to lease an advanced flight data analysis system for the 2026–2030 period. This initiative will help the airline enhance aviation safety and comply with international regulations.

The system enables early detection of safety risks, deviations from standard operating procedures, and aircraft limitations. It also provides continuous monitoring to identify trends, assist with incident investigations, and maintain fleet reliability. By adopting this system, Vietnam Airlines aims to enhance pilot safety, improve preventive maintenance, and optimise fleet performance.

These agreements mark a pivotal step in Vietnam Airlines’ journey towards digital transformation and sustainable development. They reflect the airline’s commitment to innovation and industry leadership while advancing Vietnam’s integration into the global aviation landscape. The partnerships further solidify Vietnam Airlines’ ambition to become a leading airline in the region and on the world stage.

Vietnam Airlines is the national flag carrier of Vietnam, operating a network of 106 routes, including 22 domestic and 36 international destinations across 20 countries. The airline became the first Southeast Asian carrier to join the SkyTeam Alliance in 2010 and operates one of the most modern and fuel-efficient fleets in Asia, including Boeing 787 Dreamliners, Airbus A350s, A321s, and A320neo aircraft./.

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