Vietnam News

PM asks ministries to support Bamboo Airways

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Prime Minister Pham Minh Chinh has asked relevant ministries to find solutions to Bamboo Airways’ issues on capital, transfer of shares to new investors, and its fleet expansion.

The airline has recently faced many difficulties, especially in finance.

In mid-July, it was rumored Bamboo Airways asked the government for bankruptcy protection, but the private airline denied this.

In early July, Bamboo Airways sent the prime minister a report on its operation and difficulties.

Chinh assigned the Ministry of Transport to maintain the airline’s operating conditions to ensure security and safety in civil aviation transport, and the Ministry of Finance to remove difficulties in transferring its shares to new investors.

He also asked the Ministry of Planning and Investment to quickly appraise a proposal allowing Bamboo Airways to increase its fleet to more than 30 aircraft, because the lengthy process would slow down the airline’s recovery and development as well as reduce its business opportunities.

In addition, he proposed the State Bank of Vietnam work with the airline to remove financial difficulties, facilitating commercial banks’ contribution of capital to the airline.

The prime minister requested the ministries and the central bank to report the results of their troubleshooting before September 15.

Vietnam’s aviation industry has been recovering domestically but is still struggling to reclaim its share of the global market.

In the first six months, the domestic market increased by 8% compared to pre-pandemic levels, but the international market remained 40% lower.

By Anh Tu – – August 19, 2023

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