Vietnam Airlines to sell, lease back four aircraft
Vietnam Airlines said that it plans to sell or lease back four new aircraft which the corporation will receive in 2017 to ease the pressure on the due-debt-over-ownership-capital ratio.
Hanoi (VNA) – Vietnam Airlines said that it plans to sell or lease back four new aircraftwhich the corporation will receive in 2017 to ease the pressure on thedue-debt-over-ownership-capital ratio and boost liquidity.
Aircraft to besold or leased back include one Boeing B787-9 and three Airbus A350.
According toChairman of the Board of Directors Pham Ngoc Minh, the plan still ensuresVietnam Airlines’ intention of developing its fleet while reducing itsdependence on loans, particularly Government -sponsored loans.
The sale andleaseback of the four planes would help Vietnam Airlines cut its originalcapital need for buying aircraft by 544 million USD and reduce the debt-over-ownership-capitalratio from four times on December 31, 2016, to 3.2 times on December 31, 2017and three times by the end of 2018, said Minh.
As of December31, 2016, Vietnam Airlines owned a fleet of 86 aircraft with average age of 5.7years.
Vietnam Airlineswill continue upgrading its fleet by getting rid of Fokker and ATR72 planes andreplacing its 18 body-wide Boeing 777 planes and Airbus A330 with 🌳33 new-generationBoeing 787-9 and Airbus A350 planes by 2019.-VNA
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Illustrative image (Source: VNA)
