Bamboo Airways maintains target of 30 per cent market share

Monday, Apr 20, 2020 12:51

Senior management meeting of Bamboo Airways. The carrier would maintain its market share target of 30 per cent this year. — Photo courtesy of Bamboo Airways

Bamboo Airways will not change its market share target in 2020 despite the COVID-19 pandemic, though the minimum fleet plan will be reduced from 50 to 40 aircraft.

“Bamboo Airways' target of 30 per cent market share by the end of 2020 is unchanged, which focuses primarily on the domestic routes that Bamboo Airways determined as important ones,” Trinh Van Quyet, Bamboo Airways' Chairman announced at an online meeting between senior managers last week.

Quyet said that with this plan, Bamboo Airways would adjust its target of increasing the fleet to at least 40 aircraft by the end of 2020.

The carrier aimed for the goal of 50 aircraft as planned at the end of 2019 if transport demand recovers better than expected, favourable market conditions and business activities meet the requirements for scaling up in the third and fourth quarter.

Responding to the operating scenario when the market recovers, he said that the company would continue to research and promote new domestic routes to strengthen the domestic flight network.

“For international markets, depending on the developments of COVID-19 pandemic in other countries, Bamboo Airways will restore operations on established regular routes such as Viet Nam – South Korea, Taiwan and the Czech Republic. We will also reopen the process of establishing and connecting new routes to East Asia, Europe, the US and Australia; as well as explore new potential routes,” he added.

The chairman said that aviation is one of the industries most severely affected by the pandemic, but at the same time among the most rapid to recover afterwards. Besides, oil prices have continued to decline deeply as of the first week of April, which is also a good signal for the transportation sector, including aviation.

Despite the complicated developments of the COVID-19 pandemic, in the first four months of 2020, Bamboo Airways has maintained outstanding operating performance. The carrier's On-time Performance rate was the highest in the Vietnamese aviation industry in the first quarter of this year, reaching more than 95 per cent. Flight safety rate was at absolute 100 per cent. Thanks to internal epidemic prevention measures, no cases of Bamboo Airways staff infected with COVID-19 were reported.

Since the outbreak of COVID-19, Bamboo Airways has adjusted its business focus, such as suspending the operation of all international routes, reducing the frequency of domestic routes, and diverting from affected areas. During this tough period, the carrier has promoted charter flights repatriating EU passengers and cargo for both humanitarian and commercial purposes.

Many new products and services have been launched to meet the special needs of the market in this unprecedented period, such as the promotion of “Get 3 seats for 1 ticket” to ensure the safety of passengers, and Bamboo Pass – the unlimited flight pass programme. — VNS

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