Prime Minister Pham Minh Chinh (R) and ALC Executive Chairman Steven Udvar-Hazy at their meeting in Hanoi on December 15 (Photo: VNA)
Hanoi (VNA) – Prime MinisterPham Minh Chinh received Executive Chairman of the US-based Air LeaseCorporation (ALC) Steven Udvar-Hazy in Hanoi on December 15.
Noting the growing Vietnam - US relationsin many areas, PM Chinh said the US is currently a leading partner of Vietnam.
He said the COVID-19 pandemic haswreaked havoc on the whole world, including the two countries, and aviationbusinesses, including Vietnam Airlines, are among those hit hardest.
Heasked the ALC to assist Vietnam Airlines in this tryingtime, adding that the support will help the national flag carrier weather difficulties, restructurebetter, and also cooperate more effectively with the ALC in the time ahead.
The country is planning to resume someinternational air routes, including those linking with the US, and VietnamAirlines will take part in this process, the PM said.
Agreeing to assist Vietnam Airlines incertain contracts, Udvar-Hazy said during their 20-year partnership, thecarrier has always carried out the signed agreements with his firm well, and thebilateral cooperation is now at its best.
He expressed his belief that with theassistance and after Vietnam reopens, with economic and tourism activitiesresumed, Vietnam Airlines will recover and develop.
Following the meeting, PM Chinhwitnessed the exchange of the assistance agreement between Vietnam Airlines andthe ALC. Under this deal, the American company will directly reduce prices by 420million USD in existing contracts and cancel the previously signed aircraft leasingones worth 600 million USD in total.
The ALC, headquartered in Los Angelesand one of the world’s largest aircraft leasing companies, is leasing 22 planesto Vietnam Airlines, accounting for more than 30 percent of the aircraft thiscarrier is renting./.
The national flag carrier Vietnam Airlines has recorded a net loss of 3.5 trillion VND (155 million USD) in the third quarter of this year, a sharp decrease compared to nearly 4.9 trillion VND and 4.4 trillion VND reported in the previous quarters.
The launch of a direct air route between Vietnam and the US is an important milestone reflecting the strong growth of the bilateral relations and helping boost Vietnam’s economy and cultural exchange, said Vietnamese Deputy Consul General in San Francisco Hoang Huu Anh.
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Prime Minister Pham Minh Chinh (R) and ALC Executive Chairman Steven Udvar-Hazy at their meeting in Hanoi on December 15 (Photo: VNA) 
