Vietnam private airline appoints BNP Paribas as financier for aircraft order

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    Photo courtesy of Reuters

French bank BNP Paribas signed a deal with VietJetAir Monday to manage financing for the private carrier's purchase of aircraft in 2014.

The agreement is another step by the low-cost carrier toward its commitment to buy 100 aircraft from Airbus.

The deal would advance VietJetAir's regional expansion plans and its goal to become the most modern and sophisticated fleet in the Asia-Pacific, it said in its press release.

But it did not disclose the number of aircraft for which BNP Paribas would manage the financing or the value of the deal.

Nicolas Parrot, head of the bank's aviation finance for the Asia Pacific, said the first airplanes are expected to be delivered in the next 10 or 11 months.

VietJetAir started domestic flights in December 2011 before becoming the first private airline in Vietnam to operate international flights in February 2013 with daily flights between Ho Chi Minh City and Bangkok.

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