Bamboo Airways to be monitored for safety following chairman’s arrest
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The Civil Aviation Authority of Vietnam said it would closely monitor Bamboo Airways for the next three to six months to ensure safety following the arrest of its chairman.
Its aircraft maintenance and operations and training would be closely supervised, deputy head of the Civil Aviation Authority of Vietnam (CAAV), Ho Minh Tan, said at an emergency meeting with the airline’s management Wednesday.
The meeting came a day after real estate giant FLC and Bamboo Airways chairman Trinh Van Quyet for alleged manipulation of his company’s share prices by using 20 different trading accounts to create fake demand.
He had earned VND530 billion (US$23.19 million) in this manner between Dec. 1 and Jan. 10, investigators said.
Deputy general director Nguyen Ngoc Trong said banks and financial institutions are committed to fulfilling all contracts they have signed with the carrier, which would in turn fulfill all its responsibilities and obligations. Bamboo Airways began flying in 2019.
On Thursday, Dang Tat Thang was named the new chairman to replace Quyet until shareholders and the board of directors make a final decision. He also remains the general director.
Questions & Answers
Q.Why is Bamboo Airways being monitored by the Civil Aviation Authority?
Why is Bamboo Airways being monitored by the Civil Aviation Authority?
The airline is under close supervision by the Civil Aviation Authority of Vietnam because its chairman, Trinh Van Quyet, was arrested. This monitoring aims to ensure the airline's safety over the next three to six months.
Q.What was the former chairman of Bamboo Airways arrested for?
What was the former chairman of Bamboo Airways arrested for?
Trinh Van Quyet, the former chairman, was arrested for alleged manipulation of his company's share prices. Investigators claim he used 20 different trading accounts to create fake demand, earning VND530 billion.
Q.Who has been appointed as the new chairman for Bamboo Airways?
Who has been appointed as the new chairman for Bamboo Airways?
Dang Tat Thang has been named the new chairman to replace Trinh Van Quyet. He will hold this position until shareholders and the board of directors make a final decision, and he also remains the general director.
Q.Will the airline's financial commitments be affected by the chairman's arrest?
Will the airline's financial commitments be affected by the chairman's arrest?
According to Deputy General Director Nguyen Ngoc Trong, banks and financial institutions remain committed to their signed contracts with Bamboo Airways. The airline, in turn, will fulfil all its responsibilities and obligations.
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