ATW Daily News
Ex-Im Bank to finance Vietnam Airlines 787s
Thursday November 9, 2006Vietnam Airlines and the US Export-Import Bank announced a preliminary agreement for a loan "in excess" of $400 million that will support the carrier's acquisition of four 787-8s that it ordered last year (ATWOnline, June 22, 2005). The deal was announced in Hanoi by Michael Marine, US ambassador to Vietnam. The bank previously financed four 777-200ERs for VN. In conjunction with the announcement, Nippon Export and Investment Insurance issued a preliminary commitment to co-finance the Japanese-manufactured components of the 787. According to Reuters, VN's revenue for the nine months ended Sept. 30 dropped 16.7% year-over-year to $810 million although passenger numbers climbed 17.5% to 5.1 million.
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