Vietnam Airlines has signed a Memorandum of Understanding (MoU) with ING Bank to establish bilateral financial cooperation, securing capital funding of up to US$1.5 billion. The agreement was formalized during the Việt Nam–France Business Forum, witnessed by Prime Minister Phạm Minh Chính during his official visit to France.
This strategic partnership highlights ING’s strong commitment to supporting Vietnam Airlines’ long-term expansion. The bank pledged to provide capital for key projects aimed at enhancing operational efficiency and expanding the carrier’s international network. Additionally, ING will offer advisory services and capital structuring expertise to assist the airline’s ongoing development.
Le Duc Canh, Deputy CEO of Vietnam Airlines, emphasized the significance of the collaboration: “Partnering with ING, a leading European financial institution renowned for its aviation finance expertise and global reach, is a major endorsement of Vietnam Airlines’ operational strength, financial transparency, and vision for the future. This funding arrangement will enable us to access sustainable capital and accelerate our growth on the international stage.”
Jason Ong, Country Manager for ING Việt Nam and Indonesia, echoed this sentiment, stating: “Vietnam Airlines is a critical driver of global connectivity and regional economic progress in Asia. We are proud to deepen our partnership and support the airline’s ambition to expand internationally while adhering to responsible financing principles that promote sustainable growth in aviation.”
This MoU builds upon a longstanding collaboration. In 2015, ING arranged a US$570 million loan for Vietnam Airlines to finance four wide-body aircraft. During the COVID-19 pandemic, the bank helped restructure approximately US$80 million in loans to ease financial pressures amid unprecedented challenges.
Separately, at the Việt Nam–France Business Forum, Vietnam Airlines also signed an MoU with Safran Electronics & Defense, a Safran Group subsidiary, to lease an advanced flight data analysis system from 2026 to 2030. This cutting-edge technology will enhance aviation safety, facilitate regulatory compliance, and support early detection of operational risks.
The system’s continuous monitoring capabilities will help identify safety trends, aid incident investigations, and optimize fleet reliability. Vietnam Airlines aims to improve pilot safety, preventive maintenance, and overall fleet performance through this initiative.
These agreements represent key milestones in Vietnam Airlines’ digital transformation and sustainable development journey. They underscore the airline’s dedication to innovation and leadership while strengthening Việt Nam’s position in the global aviation sector.
As the national flag carrier, Vietnam Airlines operates 106 routes, including 22 domestic and 36 international destinations across 20 countries. Since becoming the first Southeast Asian member of the SkyTeam Alliance in 2010, the airline has maintained one of Asia’s most modern, fuel-efficient fleets, featuring Boeing 787 Dreamliners, Airbus A350s, A321s, and A320neo aircraft.
