Eximbank seals air deal. (News)

Vietnam Investment Review, July, 2003 by Xuan Son

THE FINANCE contract for the first of Vietnam Airlines' four new Boeing 777s will be signed this week after the official US export credit agency, Eximbank, formally agreed to guarantee the loan.

The US Embassy in Hanoi said late last week an agreement between Eximbank. Vietnam Airlines and Citibank--the bank that is financing the Boeing purchase--would be signed on July 22.

US Ambassador to Vietnam, Raymond Burghardt, will sign on behalf of Eximbank with Vietnam Airlines CEO Nguyen Xuan Hien and Citigroup Vietnam's newly-appointed country officer Charly Madan.

Vietnam Airlines has agreed to buy four Boeing 777s for $680 million with engines installed by US Pratt & Whitney who beat UK's Rolls-Royce.

Eximbank issued a preliminary commitment...

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