Techcombank offers Vietnam Airlines $90-million loan

Thursday, Dec 18, 2014 17:14

Representatives of Techcombank and Vietnam Airlines sign credit contracts in Ha Noi on December 16. — Photo

HA NOI (Biz Hub) — Techcombank and national carrier Vietnam Airlines signed two credit contracts worth nearly US$90 million in Ha Noi on December 16, reported Dau tu (Vietnam Investment Review) online.

They concluded a VND1-trillion ($47.62 million) contract, which the company will use for short-term purposes, and a $42-million deal, which will provide the carrier medium-term finances for aircraft purchases.

The overall aim is to help Vietnam Airlines improve its performance and economic efficiency, the report said.

Techcombank acting General Director Do Tuan Anh added that this co-operation is part of the two parties' joint activities, which will intensify their strategic partnership and sustained development in the future.

Techcombank became one of Vietnam Airlines' largest investors on November 14, when the company launched an initial public offering on the HCM City Stock Exchange. The bank bought 25.67 million shares, or a 1.82 per cent stake, in the airline at the session.

The two parties have maintained their co-operation for 15 years. — VNS

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