Vietnam's VietJet has managed to delay most of its loans with creditors, the company said in a statement on Friday (17).
The airline said on Friday it had negotiated cuts of 30 to 70% in prices and service fees, as well as extending payment .
“So far, VietJet has reached agreements to extend from three to 12 months the payment time of 75% to 80% of aircraft agreements with international aircraft financial institutions, HSBC credits, Citibank … and large domestic banks,” he said. the company in an emailed statement.
That loan, cited by VietJet, was directed towards the purchase of new aircraft, such as the 124 A321neo planes on order, and the 120 737 MAX planes.
The airline further commented that this suspension would allow it to expand its financial resources, focusing on improving its quality of service, expanding its cargo business, and developing e-commerce and cost management solutions. It also implemented a fuel hedging program to “stabilize fuel costs,” which for more than 40% of its operating expenses.
VietJet currently has a fleet of 75 A320 and A321 aircraft, operating around 400 daily flights, and transporting 80 million engers a year.
VietJet has an extensive order book from both major aircraft manufacturers. VietJet is among the first airlines to take delivery of the A321XLR from Airbus, of which it ordered 20 aircraft in August last year.
