Vietnam Airlines borrows $100 mil to buy Boeing aircraft

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National carrier Vietnam Airlines will borrow US$100 billion from the Export and Import Bank (Eximbank) to buy eight Boeing 787 aircraft.

A Vietnam Airlines official said the money will be used as a deposit to buy the aircraft that are expected to be put in use starting in the second quarter of 2015 to replace the carrier's current fleet of Airbus A330 use for international services, the VnExpress news website said Tuesday.

The Boeing 787 Dreamliner, developed by Boeing Commercial Airplanes, is said to be the company's most fuel-efficient airliner and the world's first major airliner to use composite materials as the primary material in the construction of its airframe. The twin-engine jet airlines can seat between 210 and 290 passengers.

Vietnam Airlines late last year also borrowed $100 million from Eximbank to buy four Airbus aircraft.

Leasing aircraft is among the high expenses that officials and investors say are causing turbulence in the Vietnam airline industry. Several airlines have been pushed out of business, while among the three remaining ones, private carriers Jetstar Pacific and VietJetAir are yet to break even. The third one, Vietnam Airlines, has seen its revenues drop, according to business reports.

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