Bamboo Airways’ 9-month loss exceeds last year’s total

By Dat Nguyen   November 1, 2022 | 01:27 am PT
Bamboo Airways’ 9-month loss exceeds last year’s total
A Bamboo Airways aircraft is seen at Tan Son Nhat International Airport in Ho Chi Minh City in August 2022. Photo by VnExpress/Quynh Tran
Bamboo Airways posted a loss of VND3.54 trillion ($142.38 million) in the first nine months, exceeding the total loss it recorded last year by 54%.

Its loss has been increasing this year, from VND691 billion in the first quarter to VND1.39 trillion in the second and almost VND1.45 trillion in the third, according to calculations from a financial report of FLC, which owns a 21.7% stake in the airline.

Bamboo Airways went through major restructuring in the second and third quarter after its chairman was arrested in March for alleged stock manipulation.

Nguyen Ngoc Trong, who has been with the airline since its establishment in 2018, became its chairman in August, while Nguyen Manh Quan, who joined the airline in 2020, took over the CEO chair from Dang Tat Thang.

The airline in October moved its Ho Chi Minh City office from FLC’s building in District 3 to a Novaland building in District 1 after the property developer signed a strategic partnership with the airline.

Bamboo Airways said in July that it planned to triple its fleet size to 100 by 2028. The airline at the time operated 29 jets, comprising 21 narrowbody aircraft, three Boeing B787s and five Embraer 190 regional aircraft, according to aviation data website Planespotters.

go to top