Bamboo Airways to expand fleet to 18 aircraft

Bamboo Airways will charter additional aircraft to expand its fleet to 12 by the end of 2024 and 18 by the end of 2025 if market conditions allow.

In the first six months of this year, Bamboo Airways chartered three A320 aircraft, bringing its total operational fleet to eight.

The decision to charter more aircraft amid soaring aviation input costs, especially aircraft leasing expenses, demonstrates the airline's efforts to find solutions to increase ticket supply and help calm the domestic aviation market.

"Besides fleet expansion efforts, Bamboo Airways is also focusing on fully exploiting high-demand routes, connecting famous tourist destinations both domestically and internationally," said Luong Hoai Nam, CEO of Bamboo Airways.

The CEO noted that domestic airfare prices will only cool down when more seats become available on budget flights after the number of aircraft operated by Vietnamese airlines increases.

Currently, the total number of aircraft operated by all domestic carriers is about 160, down 60-70 compared to pre-pandemic levels. Therefore, Bamboo Airways has been striving to add aircraft to serve the domestic market by seeking and negotiating with partners worldwide.

The airline plans to hire one more aircraft between now and the end of the year to open additional domestic routes such as Ho Chi Minh City - Dalat, Ho Chi Minh City - Thanh Hoa, and Ho Chi Minh City - Phu Quoc.

According to Nam, leasing more aircraft also evidences Bamboo Airways' stable and positive recovery trajectory. The airline has essentially completed its restructuring phase for its fleet, route network, and business model, and is now beginning to grow again. It aims to restore its fleet size to the previously set target of 30 aircraft and advance further in the coming years, meeting the expectations of customers and investors who have trusted and partnered with Bamboo Airways.

On July 10, Bamboo Airways signed a $36 million aircraft maintenance contract with Israel Aerospace Industries (IAI).

Under the agreement, IAI will provide maintenance services for six CFM56-5B engines equipped on Bamboo Airways' A321 aircraft during 2024-2025. Additionally, IAI will lease one CFM56-5B engine to Bamboo Airways for a two-year term, starting in 2024.

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