China Construction Bank to help finance VietJet A320s

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China Construction Bank and its leasing arm CCB Financial Leasing have entered a co-operation agreement with VietJet Air related to its September order for 100 Airbus A320 aircraft.

“China Construction Bank [CCB], CCB Financial Leasing Corporation Limited and VietJet Air have signed the strategic partnership agreement of understanding on strategic co-operation in financing and leasing aircraft,” said the Vietnamese low-cost carrier in a statement.

The deal also covers engines and other “high value aviation materials”, it adds.

“The agreement is among VietJet Air’s initial steps in financing the order of 100 aircraft with Airbus,” adds VietJet. “The first batch of this order is due for handover next year.”

This is China Construction Bank’s second agreement with an airline within two weeks. On 24 October, it entered a co-operation agreement with China Eastern Airlines.

According to the VietJet statement, CCB Financial Leasing has an authorised capital of $854 million and assets of $10 billion.