Vietnam Airlines (VN) has signed a memorandum of understanding (MOU) with Vietcombank to secure funding for its order of 50 narrowbody aircraft. The agreement, finalized on April 23, 2025, was signed by Vietnam Airlines CEO Le Hong Ha and Vietcombank CEO Le Quang Vinh. Although the manufacturer of the aircraft was not specified, Vietnam Airlines had previously indicated plans to purchase 50 Boeing 737 MAX jets in 2023.
The deal is part of the state-owned airline’s broader strategy to modernize and expand its fleet over the next decade. The financial arrangement will cover aircraft payments and long-term loans, with a repayment period spanning from 2026 to 2032. Vietcombank, which holds a majority state ownership, has previously provided similar funding for the airline’s aircraft purchases.
In a statement, Vietnam Airlines explained that the investment would support the expansion of its short- and medium-haul routes in key markets across Southeast Asia, Northeast Asia, and domestically, where demand for air travel is growing rapidly and competition is intensifying. The airline also highlighted that this move is a key component of its long-term fleet strategy for 2025–2035, with a vision extending through 2040.
The airline first announced plans to purchase 50 narrowbody aircraft back in 2018. Five years later, during a visit by US President Joe Biden to Vietnam, the White House stated that the airline would place an order for Boeing 737-8s. However, Vietnam Airlines had not yet committed to the deal, and the necessary financing remained unresolved at that time.
Earlier this month, Vietnam Airlines signed a separate MOU with Citibank S.A. for USD 560 million to support its strategic investments. The airline also plans to meet with the EXIM Bank of the United States to explore potential loan guarantee options.
Any aircraft purchase would play a role in reducing Vietnam’s USD 123.5 billion trade surplus with the United States, a key factor behind the 46% tariff imposed on Vietnamese imports by the US under President Donald Trump. The Vietnamese government is currently negotiating with the US to reduce this tariff.
According to the ch-aviation PRO airlines module, Vietnam Airlines operates a fleet of 98 aircraft and serves 65 airports across 21 countries. Its fleet includes A320-200Ns, A321-200s, A350-900s, Boeing 787s, and ATR72-500s, with the airline continuing to invest in expanding its fleet to meet rising demand.
