Vietnam Airlines signs $87m loan agreement with SeABank

Vietnam Airlines has signed a credit contract with Vietnam’s Southeast Asia Commercial Joint Stock Bank for up to D2t ($87m). A part of this amount will be disbursed early this month as working capital lending for production and business activities, “alleviating difficulties faced by Vietnam Airlines due to the Covid-19 pandemic”, SeABank says Wednesday. Separately, Vietnam Airlines and SeABank signed a three-way strategic cooperation with local real estate developer BRG Group “on a wide variety of areas to enhance customer experience and contribute to the country’s socioeconomic sustainability”, according to the same statement. SeABank, Vietnam Maritime Commercial Joint Stock Bank and SHB Bank had pledged to provide the flag carrier up to D4t in loans, which are to be refinanced without interest by Vietnam’s central bank, according to a 21 June report by Vietnamese state media Dan Viet.<br/>