Vietnam Airlines closes A321 financings

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Vietnam Airlines has closed financing of two additional Airbus A321 aircraft.

The Vietnamese carrier signed a 10-year loan facility with Vietnam Export Import Commercial Joint Stock Bank in June, marking the first agreement between both parties.

The $100 million facility covers four aircraft, one of which, MSN 5164, closed in June. The two aircraft, MSN 5241 and 5247, were delivered on 24 August. The remaining delivery is scheduled for December.

Vietnam Airlines also received its first A321 under an operating lease agreement with Vietnam Aircraft Leasing Company (VALC). The aircraft, MSN 5251, was financed under 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.

It is the first of 10 A321s leased from VALC. The remaining nine A321s are scheduled for delivery through March 2013.