Monday , June 24 2024

Bamboo Airways eschews rumors of bankruptcy

Bamboo Airways has assured the public that all operations and flights are continuing normally, denying recent rumors of bankruptcy.

The private airline said in a release Friday that it has been making strong efforts to restructure the business and has identified what it believes is the best development strategy going forward.

Bamboo Airways will continue to utilize its resources to expand its flight network and offer the best services to customers, the release said.

Rumors have been circulating this week that a Vietnamese airline is seeking permission to declare bankruptcy.
But Civil Aviation Association of Vietnam (CAAV) head Dinh Viet Thang said he has not received any specific details concerning such rumors.

“We understand that Vietnamese airlines face many post-pandemic difficulties just like other airlines in the world,” he said. “Aviation authorities are always providing them with support.”

Bamboo Airways has seen many senior leadership changes in recent weeks. On July 11, four members of the board of directors, including Japanese chairman Oshima Hideki, asked to resign after being appointed only one month prior.

CEO Nguyen Minh Hai also resigned only two months after taking the job. Hideki is now the deputy chairman of the airline while Le Thai Sam, who holds more than a 50% stake, is the new chairman.

Vietnam’s aviation industry has been recovering domestically but is still struggling to reclaim its share of the global market.

In the first six months, the domestic market increased by 8% compared to pre-pandemic levels, but the international market remained 40% lower.

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