Bamboo Airways raises charter capital to nearly $300 million

VnExpress | Dat Nguyen Thursday | 05/07/2020 16:27

An aircraft of Bamboo Airways prepares to land at Tan Son Nhat International Airport in Ho Chi Minh City. Photo by Shutterstock/Phuong D. Nguyen.

As Vietnam eased social distancing campaign and restarted the economy, Bamboo Airways increased its charter capital by 73% percent to VND7 trillion ($299 million).

The additional investment was made on April 17 from its previous charter capital of VND4.05 trillion ($173 million.), according to The National Business Registration Portal.

However, its parent company FLC, a property developer, has not made any announcement about capital addition for Bamboo Airways; and the airline has not announced a change in ownership.

As of March 31, FLC had a 52.11 percent stake in the carrier.

With the adjustment, Bamboo Airways ranks second in terms of charter capital among five domestic airlines, behind flag carrier Vietnam Airlines, at 14.2 trillion ($607 million). Budget airline Vietjet ranks third with VND5.4 trillion ($231 million).

Bamboo Airways has announced plans to list on the Ho Chi Minh City Stock Exchange (HOSE), Vietnam’s main bourse.

The Vietnam Valuation and Inspection Quality Jsc, a business valuation company, has valued it at VND33.3 trillion ($1.4 billion).

The airline began flying in January 2019 and was operating on 40 domestic and international routes before the pandemic forced it to severely curtail operations.

► FLC Group reports $81 million after-tax loss in 1Q from $345,500 profit

► Bamboo Airways to open direct air route to Germany’s Munich

Source: VnExpress