return icon

Bamboo Airways finds a new investor

Bamboo Airways has found a new investor and will continue its restructuring and finish the investor conversion process this year.

A representative of Bamboo Airways told VietNamNet that for nearly a year, Bamboo Airways has made a great effort to find new investors who can support  the airline with financial resources and restructuring.

Bamboo Airways has found a new investor to replace the former shareholders (former Chairman Trinh Van Quyet and related shareholders).

Bamboo Airways has assisted in procedures for transferring shares from old shareholders to new investors. The transfer has been carried out under the supervision of state agencies under provisions of law and approved by competent authorities.

The number of transferred shares was mortgaged by former shareholders at banks in 2020.

The new investor, in addition to paying for the shares, has also agreed to be responsible for the payment of principal and interest on previous loans made by the old shareholders who used Bamboo Airways shares as mortgage at banks.

At the same time, the new investor also will give former Chairman Trinh Van Quyet money to be paid into the blocked account of the Investigation Police Agency to compensate for the consequences (if any) in his case.

The prolonged pandemic period, along with incidents related to its senior personnel, pushed Bamboo airways into a difficult situation. 

Bamboo Airways said that it called for support from major investors to help it overcome the crisis. For example, Him Lam Joint Stock Company loaned Bamboo Airways VND 8,000 billion.

Him Lam is a well-known real estate firm of entrepreneur Duong Cong Minh, who is a senior advisor of the Board of Directors of Bamboo Airways.

Bamboo Airways was established on May 31, 2017 with an initial charter capital of VND700 billion, 100 per cent owned by FLC Group. After that, the airline increased its charter capital to VND2.2 trillion, VND7 trillion and VND10.5 trillion and finally VND18.5 trillion in September 2021. FLC also gradually reduced its ownership to 21.7 per cent.

Nguyen Le


Achilles heel in tourism

Vietnam’s tourism industry has made only meager strides in diversifying its products despite years of growth.

The most addictive dish on Ha Giang plateau

Ha Giang attracts tourists not only for its majestic natural landscape and honest ethnic people but also for its bold, regional specialties that cannot be found anywhere else.

Liquidity needs to be ensured: Central bank

The Governor of the State Bank of Vietnam (SBV) sent important messages about monetary policies at a meeting with businesses held by SBV and HCM City People’s Committee late last week.

Firms hesitate to access loans due to weak consumption demand

The State Bank of Vietnam last week cut its policy rates for the third time this year to prop up economic growth.

Banks experience significant increases in non-performing loans

Given the challenging economic environment, the performance of numerous banks is rather bleak, particularly due to the mounting bad debt levels.


Work on Cat Bi Airport’s Terminal T2 to start in Q4

Vietnam should consider announcing the end of COVID-19: NA deputy

At the ongoing fifth session of the 15th National Assembly (NA) held on May 29, Nguyen Lan Hieu of the NA Delegation of Binh Dinh province suggested that the end of COVID-19 should be announced.

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.


Vietnam leaves good impressions at multi-ethnic festival in Czech Republic

Vietnam to build center for search and rescue in Spratly Islands

Deputy Prime Minister Tran Luu Quang has approved a project to improve the capacity of incident and natural disaster response and search and rescue to 2030, with a vision to 2045.

Male model finishes as third runner-up at World Fitness Supermodel

Ngo Hoang Linh, the Vietnamese representative at World Fitness Supermodel 2023, was awarded the third runner-up title during the male pageant’s grand final held on May 27 in Thailand.

Old Vietnamese publications in romanised script on display in Paris

An exhibition showcasing old Vietnamese publications in Chu Quoc ngu (romanised Vietnamese script) is underway in Paris, France.

HCMC police raze black-credit companies with illicit profits of over US$176mln

The Ho Chi Minh City Department of Public Security yesterday prosecuted nine people for usury in civil transactions.

Entertainment and cultural events of the week (May 29-June 4/2023)

Upcoming entertainment and cultural events in Vietnam's major cities on May 29-June 4.

More cooperation needed to develop rare earth industry in Vietnam

The applications for rare-earth element products have developed strongly in recent decades, especially in the field of agriculture in which they are used to create clean, safe, and effective agricultural products.