Bamboo Airways refutes bankruptcy claims

July 14, 2023 | 18:20
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Amid circulating rumours of a potential bankruptcy filing, Bamboo Airways refutes insolvency speculation while announcing a leadership change, introducing Nguyen Ngoc Trong as the interim CEO following the recent resignation of Nguyen Minh Hai.
Bamboo Airways refutes bankruptcy claims

Vietnam's domestic aviation market is slowly reviving, notwithstanding a sluggish international market recovery and various external challenges that still present considerable obstacles for local airlines. This fragile resurgence is underscored by recent developments within the nation's leading carriers.

During a Ministry of Transport meeting on July 10, Dang Ngoc Hoa, chairman of Vietnam Airlines' Board of Directors, explained the fraught situation currently experienced by the aviation sector.

"It is important to note that one of the major airlines has purportedly sought bankruptcy protection in an attempt to navigate this turbulent period," Hoa said.

Speculation has swirled around Bamboo Airways, a significant player in the Vietnamese aviation market, as being the airline potentially considering filing for bankruptcy.

Contradicting these claims, Bamboo Airways confirmed on July 14 that it had been relentlessly restructuring and implementing extensive organisational reforms. The airline has dedicated considerable effort to the exhaustive research and development of various operational frameworks, striving to identify the most suitable and viable trajectory for growth.

In its recent statement, the company declared, "Despite the challenges, Bamboo Airways continues to uphold operational stability, guaranteeing punctual flight schedules and absolute safety. Our unwavering commitment is to expand our flight network and optimise all resources to continue serving our customers. Bamboo Airways remains steadfast in delivering high-quality aviation services, highlighting our hospitality-driven, customer-centric approach."

Bamboo Airways has undergone some recent significant transitions within its senior leadership. Nguyen Minh Hai, CEO of Bamboo Airways, recently resigned, passing the helm to Nguyen Ngoc Trong, vice chairman of the Board of Directors, who will act in the interim capacity.

Hai only assumed the CEO role at the end of May this year. Born in Hanoi in 1972, Nguyen Minh Hai is a graduate of Tourism Business Management from the National Economics University. He also completed an advanced Political Theory course at the Regional Political Academy - Administrative Area I.

With an impressive career spanning 25 years in the aviation industry, the former CEO had previously held several key roles within Vietnam Airlines and its subsidiaries. His time as deputy CEO of Vietnam Airlines and CEO of Cambodia Angkor Air demonstrate his substantial expertise and experience, which have undeniably contributed to the Vietnamese aviation landscape.

Resignations and new appointments shake up Bamboo Airways' Board of Directors Resignations and new appointments shake up Bamboo Airways' Board of Directors

Bamboo Airways has witnessed a series of resignations from key board members and is preparing to welcome new leaders, signalling significant changes in the airline's governance structure.

GE Digital joins with Bamboo Airways to save on fuel costs GE Digital joins with Bamboo Airways to save on fuel costs

GE Digital has announced a new agreement with Bamboo Airways that will help the airline enhance its fuel efficiency and reduce carbon emissions. Bamboo Airways is set to adopt GE Digital’s Fuel Insight and FlightPulse, two market-proven software solutions that are designed to provide airlines with data they can use to reduce fuel costs and optimise operations.

By Nhat Minh

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