Vietnam Aircraft Leasing Company (VALC) has announced the appointment of Pham Trung Hieu as president and chief executive officer with effect from February 15, 2012.

The former CEO, Tran Long, has left to take up a new position at Bank for Investment and Development of Vietnam (BIDV) after his secondment period at VALC.

Pham Trung Hieu, before joining VALC, was with BIDV from 1997 to 2011 in the field of project financing and investment, holding many high-level management positions.

VALC was established at the end of 2007 by BIDV and Vietnam Airlines Company Limited to specialize in purchasing aircraft and leasing to domestic and regional airlines. VALC now leases aircraft manufactured by Airbus, Boeing and ATR.

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