Bamboo Airways hikes capital yet again

Private carrier Bamboo Airways has increased its charter capital by 28 percent to VND16 trillion ($695 million), the highest in the industry.

Since it was set up in May 2017 with a capital of VND700 billion, this is the airline’s seventh hike.

Its chairman, Trinh Van Quyet, said this month the airline is considering an initial public offering of shares in the U.S. this year to raise $200 million.

It is expected in the third quarter, with the company likely to offer a 5-7 percent stake.

It also plans to expand its fleet from 30 aircraft to 40.

Last year, Bamboo Airways carried over seven million passengers to account for a 20 percent market share, and hopes to increase it to 30 percent this year.