Bamboo Airways sticks with 30 percent market share target

By Thanh Binh    April 19, 2020 | 04:30 am PT
The Covid-19 pandemic has not changed Bamboo Airways's market share target of 30 percent for 2020 despite a reduction in fleet strength from 50 to 40 aircraft, says the carrier's chairman Trinh Van Quyet.

Bamboo Airways's target of 30 percent market share by the end of 2020, which is focused primarily on the domestic routes that we have determined as important routes, remains unchanged, Quyet said Friday at an online meeting of the airline's senior managers.

While target of increasing the fleet strength has been adjusted to 40 aircraft by the end of 2020, the earlier goal of 50 aircraft planned at the end of 2019 will still be pursued if market conditions prove favorable and business activities meet the requirements for scaling up in Q3 and Q4, he told VnExpress.

A senior management meeting of Bamboo Airways held April 17, 2020.

A senior management meeting of Bamboo Airways held April 17, 2020.

Asked what the strategy would be when the market recovers, Quyet said the company would continue to research and promote new routes to strengthen its domestic flights network.

For international markets, depending on the situation of Covid-19 being overcome in other countries, Bamboo Airways will restore operations on established regular routes such as Vietnam -South Korea, Taiwan and the Czech Republic. We will also reopen the process of establishing and connecting new routes to East Asia, Europe, America and Australia as well as explore new potential routes.

While aviation is one of the industries most severely affected by pandemics, it is also among those that stage rapid recoveries later, Quyet noted. Besides, the steep fall in oil prices as of the first week of April is also a good sign for the transportation sector in general, and aviation in particular.

He also said that despite the complicated development of the coronavirus pandemic, Bamboo Airways has maintained an outstanding operational performance in the first four months of 2020.

The carrier's on-time performance rate was the highest in the Vietnamese aviation industry in the first quarter at more than 95 percent. Flight safety rate was an absolute 100 percent.

Thanks to internal epidemic prevention measures, no Bamboo Airways staff has been reported infected with he novel coronavirus.

Following the outbreak, Bamboo Airways adjusted its business focus, suspending all international routes, reducing the frequency of domestic routes, diverting from affected areas. During this tough period, the carrier has promoted charter flights repatriating EU passengers and cargo for both humanitarian and commercial purposes.

Many new products and services have been launched to meet the special needs of the market in this unprecedented period, such as the promotion of "Get 03 seats for 01 ticket" campaign to ensure the safety of passengers, and Bamboo Pass - an unlimited flights pass program.

Bamboo Airways has carefully researched and planned our temporary adjustments in operations, especially in human resources, flight network and fleet, which follow recommendations made by authorities. Most importantly, we are working to minimize the risks to

the health and safety of passengers, staff of Bamboo Airways and the community, Quyet said.

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