A representative of Bamboo Airways confirmed that the airline had found a new investor to replace the old shareholders, former Chairman Trinh Van Quyet and other related shareholders.

Bamboo Airways is in the negotiation phase with a new investor. This group is expected to provide financial support to the company and the old chairman Trinh Van Quyet.

Bamboo Airways has assisted in carrying out the procedures for transferring shares from old shareholders to new investors. The transfer is carried out under the supervision of State agencies in accordance with the provisions of law and approved by the competent authorities.

The new investor, in addition to paying the share purchase price, has also agreed to be responsible for the payment of principal and interest on previous loans used by the old shareholders.

At the same time, the new investor also supported former Chairman Trinh Van Quyet with a separate amount of money that will be paid into the trading account of Quyet blocked by the Investigation Police Agency.

The company representative also said that after the COVID-19 pandemic, major events related to senior personnel had made the company face many difficulties in paying debts to credit institutions.

Bamboo Airways has called for support from a number of large investors to help the company overcome the current crisis. For example, Him Lam Joint Stock Company has lent Bamboo Airways VND8 trillion. This real estate group was established in 1994 with the initial charter capital of VND300 million, in 2010 increased to VND6.5 trillion.

Bamboo Airways was established on May 31, 2017 with an initial charter capital of VND700 billion, 100 per cent owned by FLC Group. After that, the airline increased its charter capital to VND2.2 trillion, VND7 trillion and VND10.5 trillion and finally VND18.5 trillion in September 2021. FLC also gradually reduced its ownership to 21.7 per cent. — VNS