Bamboo Airways Company Limited, a member of FLC Group, signed a memorandum of understanding (MoU) for co-operation with the Petrolimex Insurance Company (PJICO) and Petrolimex Aviation Fuel Joint Stock Company.

The MoU was signed last week in the central province of Thanh Hoa.

Under the terms, Bamboo Airways would give priority to use non-life insurance products of PJICO such as airplane insurance, airline liability insurance, machinery insurance and others as well as aviation fuel of Petrolimex. Meanwhile, the two subsidiaries of Petrolimex would give priorities to use airlines services of Bamboo.

Speaking at the signing ceremony, Pham Van Thanh, Petrolimex’s chairman, said Petrolimex has been a member of the Joint Inspection Group (JIG), the world-leading organisation for the development of aviation fuel supply standards.

"We committed to provide preferential to Bamboo Airways in its earlier development period of at least 3 to 5 years," Thanh said.

Trinh Van Quyet, FLC’s chairman, said the co-operation is potential for the two sides in providing aviation fuel and insurance for their development.

Nguyen Quang Dung, deputy general director of Petrolimex, suggested establishing a working team including representatives from the companies to have deep understanding on different sectors of the two sides including petroleum, aviation, resort and agriculture as a foundation for comprehensive co-operation in the upcoming time.

Bamboo Airways hopes to have its first flight on December 29 then deploying 10 aircrafts at 12 domestic airports.

It would increase the number of aircrafts to 20 at 25 airports in the first quarter of 2019 and opening international routes in the same year. — VNS