Bamboo Airways turns profit within one year of operations

06-Dec-2019 Intellasia | The SaigonTimes | 6:02 AM Print This Post

Despite entering the aviation market only 11 months ago and suffering heavy losses, Bamboo Airways has announced that it will earn a profit in the first quarter of 2020 when its fleet is expanded to 30 aircraft and it launches air routes to Europe.

Bamboo Airways vice President Dang Tat Thang on December 3 noted that the airline needed over 20 aircraft to stabilise and develop its operations.

Bamboo Airways currently uses 20 jetliners to run 100 flights per day. It will operate 30 aircraft in the first quarter of next year, thereby generating profits, Dan Tri news site reported.

The airline will receive its first Boeing 787-9 Dreamliner planes this month, Thang remarked, adding that in the initial stage, these airplanes will be used on domestic routes from Hanoi to HCM City and Danang.

Boeing 787-9 Dreamliner aircraft will then serve long-haul air routes to international markets, connecting Vietnam with major markets in Asia, Europe and America.

The representative of Bamboo Airways explained that the purchase of Boeing 787-9 Dreamliner aircraft was part of its preparations for the future launch of direct air routes to the United States in late 2020 and early 2021.

Speaking of its plan to launch its initial public offering (IPO), the representative of Bamboo Airways stated that many domestic and foreign investors have expressed interest in the launch. The airline, however, is set to sell shares to its members and strategic partners.

Thang stressed that the prices of Bamboo Airways’ shares will go up six months after the IPO.


Category: Business, Vietnam

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