Vietnam Airlines to sell, lease back four aircraft
Hanoi (VNA) – Vietnam Airlines said that it plans to sell or lease back four new aircraft
which the corporation will receive in 2017 to ease the pressure on the
due-debt-over-ownership-capital ratio and boost liquidity.
Aircraft to be
sold or leased back include one Boeing B787-9 and three Airbus A350.
According to
Chairman of the Board of Directors Pham Ngoc Minh, the plan still ensures
Vietnam Airlines’ intention of developing its fleet while reducing its
dependence on loans, particularly Government -sponsored loans.
The sale and
leaseback of the four planes would help Vietnam Airlines cut its original
capital need for buying aircraft by 544 million USD and reduce the debt-over-ownership-capital
ratio from four times on December 31, 2016, to 3.2 times on December 31, 2017
and three times by the end of 2018, said Minh.
As of December
31, 2016, Vietnam Airlines owned a fleet of 86 aircraft with average age of 5.7
years.
Vietnam Airlines
will continue upgrading its fleet by getting rid of Fokker and ATR72 planes and
replacing its 18 body-wide Boeing 777 planes and Airbus A330 with 33 new-generation
Boeing 787-9 and Airbus A350 planes by 2019.-VNA