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BNP Paribas to be financier for VietJet Air’s aircraft order

Thursday, December 26, 2013, 16:00 GMT+7

Vietnamese budget carrier VietJet Air (VJA) has signed an agreement with BNP Paribas in which the international bank will be in charge of managing the financing for VJA’s three first aircraft that the company ordered in September.

Though the value of the deal has yet to be disclosed, a representative of VJA said that the price of the three aircraft which will be delivered in 2014 is US$258 million.

A representative of VJA asserted that this is one of the steps necessary for the purchase of 100 aircraft that VJA signed with Airbus in September. It aims to serve VJA’s development plan and provide the most advanced aircraft in the Asia – Pacific region.

BNP Paribas is an international bank in aviation finance, serving 128 airlines and plane leasing companies. In 2012-2013, the company helped finance 125 aircraft, resulting in over $7.24 billion of revenues.

On December 16, VJA signed an agreement, which includes technical and maintenance services, to buy GE (General Electric) & Snecma engines in a deal worth some US$800 million. The engines will be used for the 100 aircraft that VJA ordered in September.

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