HCMC – Vietnam Airlines and ING Bank signed a memorandum of understanding on financial cooperation, with a funding package worth up to US$1.5 billion, in Paris on June 11, under the witness of Prime Minister Pham Minh Chinh,
The signing took place at the Vietnam-France Business Forum, part of Prime Minister Pham Minh Chinh’s visit to France along with a high-level Vietnamese government delegation.
The partnership highlights ING’s strong commitment to supporting Vietnam Airlines’ long-term growth. The bank confirmed its intention to finance the airline’s strategic projects focused on enhancing operational efficiency and expanding global reach.
ING also expressed its willingness to provide advisory services and capital structuring support to aid the carrier’s future development.
The financial partnership with ING Bank is expected to enable Vietnam Airlines to invest in key strategic projects.
Le Duc Canh, deputy CEO of Vietnam Airlines, said, “This is a large-scale funding package that reflects international partners’ confidence in Vietnam Airlines’ management capability, financial transparency, and long-term development strategy.”
The signing marks a key milestone in the longstanding relationship between Vietnam Airlines and ING. In 2015, ING arranged a US$570-million loan to support the purchase of four wide-body aircraft for the airline.
During the Covid-19 pandemic, ING collaborated with stakeholders to restructure loans worth around US$80 million, helping to ease cash flow pressure and support Vietnam Airlines during a difficult time.
Also at the Vietnam-France Business Forum, Vietnam Airlines and Safran Electronics & Defense, a subsidiary of Safran Group, signed a memorandum of understanding to lease a flight data analysis system for the 2026-2030 period. This system will help the airline comply with aviation safety regulations across its entire operating fleet.
