FLC Group takes back management rights of Bamboo Airways

FLC Group takes back management rights of Bamboo Airways - Photo 1.

Bamboo Airways currently operates 7 Airbus A320 and A321 aircraft on 12 domestic routes - Photo: TUAN PHUNG

Bamboo Airways' 2nd Extraordinary General Meeting of Shareholders in 2025 took place at 265 Cau Giay building, which was the old headquarters of Bamboo Airways when it was still part of FLC Group.

At the congress, Chairman of the Board of Directors of Bamboo Airways Le Thai Sam said that continuing to own, manage and operate Bamboo Airways at the present time exceeds the financial and administrative capacity of the new group of investors.

Therefore, he proposed that FLC Group consider taking over ownership, management and operation of Bamboo Airways.

The Chairman of the Board of Directors of Bamboo Airways reported to the general meeting of shareholders the plan to transfer all shares of the investor group to FLC Group.

At the same time, he requested the general meeting of shareholders to direct the board of directors and executive board to support the implementation of related procedures, ensuring compliance with current legal regulations.

Mr. Le Thai Sam will continue to accompany Bamboo Airways in the role of Chairman of the Board of Directors and commits to taking responsibility for the performance of Bamboo Airways during the restructuring period.

"Choosing to continue accompanying Bamboo is my affirmation of my efforts and commitment as an individual, as well as as a representative of the group of previous investors and advisors such as Mr. Doan Huu Doan, Mr. Duong Cong Minh...

We will be responsible to the end in resolving outstanding issues, and creating a foundation for a new development phase of Bamboo Airways," said Mr. Sam.

Based on careful research and evaluation, FLC Group has agreed to take over the management of Bamboo Airways.

To facilitate the new Board of Directors and Executive Board in developing and implementing new strategies and business plans for Bamboo Airways, the General Meeting of Shareholders approved the policy of setting up risk provisions and a final settlement plan for all existing investments and loans of Bamboo Airways.

At the congress, the Bamboo Airways Board of Directors reported to the General Meeting of Shareholders the results after more than 2 years of implementing the comprehensive restructuring plan, showing that the airline has achieved a number of positive results such as saving 20% of ground service costs thanks to changing suppliers combined with self-service; maintaining on-time flight rates among the top in the domestic aviation industry; and the average seat utilization rate reaching 90%.

However, most of Bamboo Airways' operating costs have been reduced by reducing the size of its fleet, route network and staff. In 2022, the airline operated a fleet of 30 aircraft connecting to 21 domestic airports with 66 routes; and operated 15 international scheduled routes.

After restructuring its fleet, Bamboo Airways currently operates 7 Airbus A320 and A321 aircraft on 12 domestic routes with high passenger demand; the airline has temporarily suspended its regular international flight network, only maintaining international charter flights.

TUAN PHUNG

Source: https://tuoitre.vn/tap-doan-flc-nhan-lai-quyen-quan-tri-bamboo-airways-20250925124221942.htm