Transport Vietnam Airlines Secures $1.5 Billion in Funding Through ING Partnership

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Vietnam Airlines has fortuitously strengthened its financial footing through a newly signed Memorandum of Understanding (MoU) with ING Bank, securing up to USD 1.5 billion in capital funding. This significant collaboration was formalised at the Việt Nam–France Business Forum, witnessing Prime Minister Phạm Minh Chính, signifying a notable event during his working visit to France.

 

The partnership highlights ING's steadfast commitment to enabling Vietnam Airlines' sustained long-term expansion. ING, a prominent European financial entity, has committed to providing essential financing for Vietnam Airlines’ strategic initiatives, which aim to enhance its operational efficiency and bolster international network expansion. Additionally, the bank plans to offer advisory services and capital structuring advice, further supporting the airline's progressive developments.

 

Le Duc Canh, Deputy CEO of Vietnam Airlines, expressed enthusiasm about this venture, stating that ING’s deep expertise in aviation finance and extensive global reach represent a strong endorsement of Vietnam Airlines. He noted this funding would facilitate sustainable growth, allowing the airline to broaden its global prominence and solidify its status in the international aviation market.

 

Jason Ong, ING’s Country Manager for Việt Nam and Indonesia, remarked on Vietnam Airlines’ pivotal role in enhancing global connectivity and fostering regional economic development across Asia. This MoU, he stated, reflects both organisations’ shared ambition to expand international connectivity and ING’s dedication to sustainable, responsible financing within the aviation sector.

 

This agreement also marks a continuing collaborative journey between Vietnam Airlines and ING, building on past partnerships. In 2015, ING arranged a USD 570 million loan assisting Vietnam Airlines in acquiring new aircraft, and during the COVID-19 pandemic, worked to restructure approximately USD 80 million in existing loans to support the airline amidst the unprecedented crisis.

 

In parallel, at the Việt Nam–France Business Forum, Vietnam Airlines signed a separate MoU with Safran Electronics & Defense, part of the Safran Group, enlisting an advanced flight data analysis system for 2026–2030. This system aims to boost aviation safety, ensure compliance with international standards, and enhance the airline’s operational oversight through early detection of potential safety risks and deviations.

 

These advances underline Vietnam Airlines’ commitment to digital transformation and sustainable operational practices. These strategic partnerships encapsulate Vietnam Airlines' vision for innovation and leadership within the aviation industry, reinforcing Việt Nam’s integration into the global aviation domain.

 

Vietnam Airlines, the nation's flag carrier, operates 106 routes to 58 destinations across 20 countries. A member of the SkyTeam Alliance since 2010, it boasts a modern, fuel-efficient fleet, showcasing its commitment to maintaining a competitive and eco-conscious stance within Southeast Asia and beyond. These milestones not only propel Vietnam Airlines towards its ambitious goals but also cement its role as a leading force in the aviation landscape.

 

  Adapted by ASEAN Now from Vietnam News 2025-06-13