Vietnam Airlines scores $1 bln discount on jet lease

A Vietnam Airlines aircraft is seen at Noi Bai International Airport in Hanoi, Sept. 9, 2021. Photo by VnExpress/Ngoc Thanh

Vietnam Airlines and Air Lease Corporation have agreed on a leasing discount exceeding $1 billion for 18 aircraft while the former face financial challenges amid the pandemic.

U.S.-based ALC, one of the biggest aircraft leaser in the world with 450 jets, will reduce leasing charges by $420 million for the rest of the contract duration of existing jets while the remaining $600 million will be discounted on new leases.

Vietnam Airlines is leasing 16 jets from ALC, comprising 12 narrow-body A321 Neo and four wide-body Boeing B787-10.

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