Hogan Lovells Advises Vietnam Airlines on ECA Financing
04 February 2013
LONDON, PARIS, HO CHI MINH CITY, 4 February 2013 - Hogan Lovells advised Vietnam Airlines on the ECA financing of five Airbus A321 aircraft, which closed on 8 December 2012.
Vietnam Airlines is the country's State-owned flagship airline carrier and dominates the local market. Its total annual revenue reached VND 50.89 trillion (US$ 2.4 billion) in 2012.
Hogan Lovells previously advised Vietnam Airlines on the US$ 457 million ECA financing of eight Airbus A321 aircraft after Vietnam Airlines signed contracts with Airbus in 2007 and 2009 to purchase a total of 26 Airbus A321s for delivery during the 2011-2014 period as part of a plan to modernise and expand the Vietnamese fleet to 110 and 170 aircraft by 2015 and 2020 respectively.
A cross-border team from Hogan Lovells Paris, London and Ho Chi Minh City offices advised Vietnam Airlines, led by partner Richard Jadot (partner, Paris), assisted by Nasir PKM Abdul (Of Counsel, Ho Chi Minh City), Richard Goss (senior associate, London) and Chau Nguyen (associate, Ho Chi Minh City).
Commenting on the transaction, Richard said:
"We are pleased to have advised Vietnam Airlines for the second time on this important strategic transaction, highlighting our strengths in advising on complex aircraft finance transactions and expanding our aircraft finance capabilities in Asia."