FLC Group invests $26 million more in Bamboo Airway

By Minh Son   July 15, 2018 | 06:12 pm PT
FLC Group invests $26 million more in Bamboo Airway
A man passes a Vietnam property company, FLC Group, sign during an event in Singapore June 10, 2017. Photo by Reuters/Edgar Su.
The airline’s charter capital now reaches more than $56 billion.

FLC Group announced the board of directors’ decision to invest an addition of $26 million into Bamboo Airway, making the airline has a total of more than $56 billion in charter capital.

The decision was made after Deputy Prime Minister Trinh Dinh Dung approved the investing policy of Bamboo Airway at Phu Cat Airport, which locates in Binh Dinh Province in the south central coast region, on July 10.

On its official Facebook page, Bamboo Airway stated it will make its first flight on October 10, 2018.

It is reported that the aviation received 50 years business license and an expansion license starting July 9, 2018. The aviation aims to fully operate 10 aircrafts of A320-A321 or B737 by 2023.

Dang Tat Thang, general director of Bamboo Airways, said that the company is a “hybrid aviation” since it combines elements from both traditional and budget airlines to better serve the needs of customers in each sectors.

Vietnam currently has four airlines, including flag carrier Vietnam Airlines, budget operator Jetstar Pacific Airlines partly owned by Vietnam Airlines, budget carrier Vietjet Aviation and Vietnam Air Services Co.

FLC Group is one of Vietnam’s largest conglomerates, involved in real estate, hotel construction and mining. The establishment of Bamboo Airways marks the group’s newest venture in the transport industry.

FLC said it plans to operate international flights through Bamboo Airways to tourist spots in Vietnam including where FLC’s properties are placed, while it also plans domestic flights.

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