Vietjet Air signs $140 million loans for fleet expansion
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Vietjet Air has signed a syndicated loan agreement worth $140 million with three foreign banks to fund its aircraft purchase plans.
The lenders were South Korea’s Woori Bank and KEB Hana Bank; and the Industrial and Commercial Bank of China, the airline said in a statement Tuesday.
The low-cost airline is eyeing new routes to the Middle East, Eastern Europe and Australia using the 20 Airbus A321XLR aircraft it ordered last month.
The A321XLRs are scheduled to be delivered from 2023 and the carrier plans to add 10 international routes every year, Thao said.
Vietjet currently flies 40 domestic and 66 international routes. It operates 385 flights daily within Vietnam and to places such as Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar, Malaysia and India.
Questions & Answers
Q.Which specific banks are providing the syndicated loan to Vietjet Air?
Which specific banks are providing the syndicated loan to Vietjet Air?
The syndicated loan is being provided by three foreign banks: South Korea’s Woori Bank and KEB Hana Bank, alongside the Industrial and Commercial Bank of China. These lenders are funding the airline's aircraft acquisition plans.
Q.What types of new routes does Vietjet Air intend to establish with its fleet expansion?
What types of new routes does Vietjet Air intend to establish with its fleet expansion?
Vietjet Air is planning to expand its network by introducing new routes to several key regions. These include destinations in the Middle East, Eastern Europe, and Australia, using its incoming new aircraft.
Q.When are the new Airbus A321XLR aircraft expected to be delivered to Vietjet Air?
When are the new Airbus A321XLR aircraft expected to be delivered to Vietjet Air?
The new Airbus A321XLR aircraft, which Vietjet Air ordered last month, are scheduled to commence delivery from 2023 onwards. This delivery timeline supports the airline's expansion strategy.
Q.How many international routes does Vietjet Air currently operate?
How many international routes does Vietjet Air currently operate?
Vietjet Air presently operates 66 international routes, complementing its 40 domestic routes. The airline currently conducts 385 flights daily across various destinations, including several Asian countries.