Bamboo Airways hikes capital by 50 pct

Bamboo Airways has increased its charter capital by half to VND10.5 trillion ($458 million), its fifth hike in less than four years since establishment.

The airline, in which conglomerate FLC owns a 51.29 percent stake, posted a pre-tax profit of over VND400 billion last year, up 34 percent from 2019.

The airline began flying in 2019, and carried over four million passengers last year, a 40 percent increase from the previous year.

It has a fleet of nearly 30 aircraft and plans to expand it to 50 this year. It has the best on-time performance in the country.