On June 11 in Paris, Vietnam Airlines and ING Bank signed a Memorandum of Understanding on financial cooperation, with a total financing value of up to $1.5 billion, under the witness of Prime Minister Pham Minh Chinh within the framework of the Vietnam-France Business Forum.
This pivotal relationship will serve key investment projects, enhance competitiveness, and expand Vietnam Airlines’ international network in the next phase.
Through this collaboration, ING Bank reaffirms its strong interest in providing loans for Vietnam Airlines’ strategic projects to improve operational efficiency and expand its international network. In addition, ING also expressed its goodwill to accompany, consult, and arrange capital to support Vietnam Airlines in the future.
Mr. Le Duc Canh, Deputy General Director of Vietnam Airlines, expressed his delight in cooperating with ING, a leading European financial institution with a global network and extensive experience in aviation financing and collaboration with reputable world export credit organizations.
“This large-scale financing demonstrates the trust of international partners in Vietnam Airlines’ management capacity, financial transparency, and long-term development strategy,” said the Deputy General Director of Vietnam Airlines.
The agreement also opens up opportunities to access sustainable and strategic capital sources, helping Vietnam Airlines continue to expand its global network and consolidate its position in the international market.
On the partner’s side, Mr. Jason Ong, Country Director of ING Vietnam and Indonesia, shared that Vietnam Airlines is an important partner in promoting global connectivity and growth in the Asian region.
According to Mr. Jason Ong, this memorandum not only reflects the shared ambition of the two businesses in expanding their global reach but also affirms the commitment to responsible finance to support the long-term and sustainable development of the aviation industry.
It is known that in 2015, ING also arranged a loan worth $570 million to finance four wide-body aircraft for Vietnam Airlines. During the Covid-19 period, ING coordinated with related parties to restructure loans totaling approximately $80 million, helping Vietnam Airlines alleviate cash flow pressure and overcome difficulties.
Also, at this Vietnam-France Business Forum, Vietnam Airlines and Safran Electronics & Defense of the Safran Group signed a Memorandum of Understanding on leasing a flight data analysis system for the period of 2026–2030. This solution helps the airline comply with flight safety regulations for its entire fleet.
The flight data analysis system detects situations that pose safety risks, non-compliance with aircraft limits, and standard operating procedures. At the same time, the system helps monitor and measure continuously to identify trends in flight operations, support incident investigations, and maintain aircraft reliability.
Implementing this solution contributes to enhancing flight safety for pilots and supporting predictive maintenance, thereby improving the operational efficiency of the airline’s fleet.
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