Trinh Van Quyet steps down as Bamboo Airways CEO

Quyet will be replaced by Dang Tat Thang, who is standing vice chairman of Bamboo Airways, pursuant to a board decision passed last Friday, a representative of Bamboo Airways confirmed with VnExpress.

Quyet will retain his role as chairman of the airline’s board of directors, which now has eight members, the representative said.

Thang had been CEO of Bamboo Airways since it was set up by FLC Group in 2017, but had stepped down in March, citing personal reasons.

After nearly one year of operations, Bamboo Airways has operated more than 20 aircraft on 34 domestic and international routes. The airline also received its first Boeing 787-9 wide-body aircraft last week.

Bamboo Airways aims to acquire 30 percent of the domestic airline market share, operate 30 aircraft and increase its flight network to 85 by the end of 2020.  The airline is also looking to carry out an initial public offering (IPO) to raise $100 million next year.

A report by the Vietnam Civil Aviation Authority showed that Bamboo Airways had taken a 7 percent market share from market leaders Vietnam Airlines, the national carrier, and budget carrier Vietjet Air, by June. Bamboo Airways launched its first flight last December.

The company expects to operate 100 aircraft by 2025 and transport 50 million passengers per year, and targets yearly revenue and profits of $7 billion and $400 million respectively, Thang told investors at a meeting earlier this month.