National flag carrier Vietnam Airlines has announced that it will put three Airbus A321ceo aircraft up for auction this quarter with a starting price of over VND118.7 billion (US$5 million) each.

Nguyen Thanh Binh, deputy head of Vietnam Airlines’ investment and procurement department, signed a decision in early July to sell the three aircraft, which were manufactured in 2007.

They are parked at Noi Bai International Airport in Hanoi and Tan Son Nhat International Airport in Ho Chi Minh City.

Vietnam Airlines owns a fleet of 94 planes, including 65 A321 aircraft with an average age of 9.3 years, according to Planespotters.

The planned aircraft sale is part of the airline’s restructuring scheme to increase revenue and improve cash flows.

In 2020, Vietnam Airlines auctioned off nine A321ceo aircraft produced in the 2004-08 period, as part of its plan to phase out planes over 12 years old until 2025 and ramp up its cash flows amid the hardship induced by the COVID-19 pandemic, Lao Dong (Labor) newspaper reported.  

The airline sold five A321 planes for $37 million, or $7.4 million each on average, in 2020.

In 2021, the air carrier auctioned off 11 more A321ceo aircraft manufactured in 2004, 2007, and 2008.

In early 2023, the Civil Aviation Authority of Vietnam proposed the Ministry of Transport allow local airlines to scale up their aircraft fleet to suit the demands of the local market.

The Vietnamese airlines will manage a combined 250 aircraft by the end of the year, according to the aviation authority.

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