VALC closes ECA financing on first A321

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Vietnam Aircraft Leasing Company (VALC) has closed financing on a new Airbus A321 aircraft.

VALC financed the A321, MSN 5251, with a 12-year export credit agencies (ECA) guaranteed loan fronted by Germany's Euler Hermes. Lenders include Sumitomo Mitsui Banking Corporation, Bank of Tokyo Mitsubishi UFJ, KfW Ipex-Bank, Landesbank Hessen - Thuringen Girozentrale (Helaba), AKA Export Finance Bank.

The aircraft is the first of 10 A321s under a purchase agreement with Airbus. The aircraft has been placed with Vietnam Airlines under an operating lease agreement.

VALC has nine more deliveries scheduled through March 2013, according to Flightglobal's Ascend online database. The next aircraft, MSN 5275, is expected next month.