Business & Economy

Vietnam Airlines signs $7.8 billion deal for 50 Boeing 737 Max aircraft

Max Ho Chi Minh City, Vietnam, Sep 11 (EFE).- Vietnam’s flag carrier Vietnam Airlines has signed a $7.8 billion deal to buy 50 737 Max aircraft from American plane maker Boeing.

US President Joe Biden, who is on an official visit to Vietnam, and Vietnamese Pham Minh Chinh welcomed the “landmark deal,” the White House said in a readout of the meeting between the two leaders on Monday.

The agreement will support more than 30,000 jobs in the United States, it added.

Although the White House did not reveal the number of aircraft included in the contract, Vietnamese state media reported that it was a deal for 50 planes.

Vietnam has one of the fastest growing aviation sectors in the world and is expected to reach 150 million passengers annually by 2035.

Since 2016, Boeing has also signed agreements for the sale of 200 737 Max aircraft to private airlines Vietjet Air, Vietnam Airlines’ main competitor in the Vietnamese market.

Vietnam Airlines posted losses of about $423.7 million in 2022, partly due to fuel prices and currency market volatility, the company announced in February. EFE


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