Bamboo Airways unveils mystery buyer
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Bamboo Airways has found a buyer who is also willing to help disgraced former chairman Trinh Van Quyet deal with the financial consequences of his alledged crime.
A spokesperson said Thursday that the identity of the investor would be revealed later.
The buyer has agreed to take over the airline’s entire debts and provide Quyet with the money he might have to pay as fines and indemnification for the stock manipulation which led to his arrest last year.
Property developer FLC held a 51.24% stake in Bamboo Airways, and Quyet personally owned 40.03%. His 30.3% stake in FLC took his total ownership of the airline to 55.5%.
Bamboo Airways said the sale of shares has been approved and supervised by authorities.
The carrier now flies to 21 out of 22 airports in Vietnam and in April will add Ca Mau to its destinations.
Internationally, it has been resuming services to Europe and Australia post-Covid.
Questions & Answers
Q.What proportion of Bamboo Airways did Trinh Van Quyet own before the sale?
What proportion of Bamboo Airways did Trinh Van Quyet own before the sale?
Trinh Van Quyet personally owned 40.03% of Bamboo Airways. His 30.3% stake in property developer FLC, which held 51.24% of the airline, took his total ownership to 55.5%.
Q.Where does Bamboo Airways currently operate within Vietnam?
Where does Bamboo Airways currently operate within Vietnam?
Bamboo Airways currently flies to 21 out of 22 airports within Vietnam. The airline is also planning to add Ca Mau to its domestic destinations in April.
Q.What financial obligations has the new buyer agreed to take on?
What financial obligations has the new buyer agreed to take on?
The buyer has agreed to take over the airline’s entire debts. They will also provide Trinh Van Quyet with money to cover potential fines and indemnification related to his alleged stock manipulation.
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