Monday , June 17 2024

Former Japan Airlines leaders to be Bamboo Airways executives

Two former senior executives of Japan Airlines are set to join Bamboo Airways, which is seeking to restructure after some major setbacks.

The Japanese carrier’s ex-chairman, Masaru Onishi, and former director of public relations, Hideki Oshima, would join Bamboo’s management, its chairman, Nguyen Ngoc Trong, said recently without disclosing their positions.

Japan Airlines is the second biggest carrier in Japan. In 2019 its executives met with their Bamboo Airways counterparts to discuss a partnership.

Shareholders of the airline last week approved for it to issue 1.15 billion new shares to increase its capital by 62% to VND30 trillion ($1.28 billion).

The new capital will help Bamboo Airways reduce its old debt, accelerate its plan to grow its fleet, expand the international flight network, and improve service quality.

Property developer FLC has agreed to sell all of its 21.7% stake to a director, Le Thai Sam, who is set to hold over 34% stake in the airline.

“Many key plans of the airline that were stalled by crisis will be restarted and vigorously promoted,” said Trong.

He affirmed that Bamboo Airways is seriously investing in a new stage of development to become a popular airline in Asia.

It eyes to expand its fleet size to 100 in the 2028-2030 period.

The airline started to face operational challenges since its its founder and former chairman Trinh Van Quyet was arrested last year due to alleged stock manipulation.

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