Lender Sacombank eyes Bamboo Airways investment

By Anh Tu   September 16, 2023 | 12:55 am PT
Lender Sacombank eyes Bamboo Airways investment
A Bamboo Airways aircraft is seen at Tan Son Nhat International Airport in Ho Chi Minh City. Photo by VnExpress/Giang Huy
Sacombank, a major creditor of Bamboo Airways, is seeking approval from economic regulators to invest in the local carrier.

Phan Dinh Tue, a Bamboo Airways board member, said at an unusual meeting on Friday that acombank is a credit institution supporting Bamboo Airways with capital. Hence, Sacombank is genuinely interested in the restructuring process of the airline and is expecting it to grow.

Tue said Sacombank had expressed interest in providing more capital for Bamboo Airways. But being a credit institution, Sacombank’s move considered an outside-industry investment. That is why the bank is speeding up the processes to have regulators’ consent before the investment is possible.

Bamboo Airways approved items related to the board’s new structure and changes to the company’s charter and the board’s operating regulations. The company also issued management regulations and directions to select strategic shareholders.

Bamboo Airways’ general meeting of shareholders also agreed with Board Chairman Le Thai Sam’s recommendation on helping the board organize and review the company’s capital holdings, raise-reduced charter capital to serve the airline’s restructuring goal and mobilize capital from strategic shareholders. The goal is to expand the company’s flight network, and the quality of services.

Bamboo Airways’ board now has five members: Le Thai Sam, Le Ba Nguyen, Nguyen Ngoc Trong, Phan Dinh Tue and Le Thi Truc Quynh.

After dismissing three members, Bamboo Airways' supervisory board also elected three new people: Nguyen Thi Hong Cam, Pham Van Phung and Nguyen Dang Khoa.

The number of company’s legal representatives was also reduced from three to two, including the board’s chairman and the director.

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