Local aircraft rental firm receives first plane

TN News

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Vietnam Aircraft Leasing Company, also known as VALC, said Friday it has received its first passenger plane under a contract to buy five aircraft from a French company.

The airplane was immediately leased to national carrier Vietnam Airlines, VALC said in a statement.

VALC said the event marked the first time a local aircraft leasing company had joined the international aviation market.

General Director Tran Long said the remaining four ART72-500 aircraft are scheduled to be delivered from June to December this year. The five planes were bought from French firm Avion De Transport Regional.

VALC was established in 2007 by Vietnam's leading economic corporations, including Bank for Investment and Development of Vietnam, Vietnam Airlines, PetroVietnam and Vinashin.

The company has also signed contracts to purchase eight Boeing B787-8 Dreamliners and 10 Airbus A321 200 aircrafts, all of which will be leased to Vietnam Airlines under 12-year leasing contracts.

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