Vietnam Airlines secures $1.5bn in funding from Netherlands’ ING Bank

The agreement was inked on Wednesday in Paris during the Vietnam–France Business Forum, held as part of Vietnamese Prime Minister Pham Minh Chinh's official visit to France from June 7 to 11.

The deal signals ING Bank's strong commitment to supporting Vietnam Airlines with loans for strategic projects aimed at improving operational efficiency and expanding its global flight network. 

ING will also serve as a financial advisor and capital arranger for the airline.

Le Duc Canh, Deputy CEO of Vietnam Airlines, called the partnership "a strong vote of confidence from international partners" in the airline's operational capabilities and long-term vision. 

"This major funding arrangement gives us access to sustainable capital to grow our global footprint and solidify our position in international aviation," he said.

Jason Ong, country manager of ING Vietnam and Indonesia, emphasized Vietnam Airlines' role in fostering regional economic growth. 

"We are proud to deepen our relationship with Vietnam Airlines and support its development through responsible and strategic financing," he said.

The new agreement builds on an existing partnership between the two sides. 

In 2015, ING helped arrange a $570-million loan for the purchase of four wide-body aircraft. 

During the COVID-19 pandemic, the bank worked with stakeholders to restructure about $80 million in loans, easing financial pressure on the airline during the global crisis.

Also at the forum, Vietnam Airlines signed another agreement with Safran Electronics & Defense to lease an advanced flight data analysis system for 2026–30.

The system is designed to enhance safety by identifying early signs of risk, monitoring pilot performance, and improving maintenance and fleet reliability.

Vietnam Airlines described the move as a key step toward digital transformation and a stronger safety culture.

The airline said the system will improve compliance with international standards and contribute to sustainable development goals.

Direct Hanoi-Milan route in the pipeline

The national carrier currently operates 106 routes, including services to 22 domestic and 36 international destinations across 20 countries. 

This year, it plans to launch 15 new international routes connecting Vietnam with markets such as Russia, Italy, Denmark, China, India, Japan, South Korea, and the United Arab Emirates.

In recent months, Vietnam Airlines have inaugurated flights from Hanoi to India's Bengaluru and Hyderabad, resumed the Hanoi–Moscow route after a three-year suspension, and launched services between Ho Chi Minh City and Bali.

Beginning July 1, the airline will become the first Vietnamese carrier to operate direct flights from Hanoi to Milan, Italy, offering three round-trip flights each week. 

The new service will bring the airline's total number of direct European routes to nine, including connections to Paris, Frankfurt, Munich, London, and Moscow.