Vietnam's Bamboo Airways responds to debt accusations

VietJetAir, Bamboo Airways appeal for state aid

VietJetAir (VJ, Hanoi) has asked the government to encourage commercial banks to offer it soft loans of VND4 trillion dong (USD173 million), for which it would pay the principal and interest in 2023-2025, local media reported.

Speaking at a seminar titled “Overcoming crisis, developing Vietnam’s aviation sustainably”, the carrier’s chief financial officer, Ngọc Yến Phương Hồ, revealed that the company had incurred substantial losses over the last nine months, forcing it to sell assets, slash wages by 50% to 70%, and pay minimum salaries of VND8-10 million (USD350-430) to many staff.

Airlines in other countries, such as Thailand and China, have been offered financial support, she argued, and once Vietnam resumes international flights, they will be in a position to compete fiercely with local airlines. Vietnam’s carriers will continue to experience liquidity difficulties in the next two to three years, she added.

Last month, the National Assembly of Vietnam approved a VND12 trillion (USD520 million) bailout for majority state-owned Vietnam Airlines (VN, Hanoi), including low-interest loans worth VND4 trillion.

At the...

Viet Nam's Bamboo Airways authorised for US charters

The US Department of Transportation (DOT) has authorised Bamboo Airways (QH, Hanoi) to operate 12 charter flights to any point in the United States, making it the carrier's first foray into the coveted US market.

Deputy general manager Nguyen Ngoc Trong said that the first non-stop charter flights to the US could be operated by the end of 2020 or in early 2021, depending on further developments of the pandemic in the US.

The carrier has yet to apply for a Foreign Air Carrier Permit (FACP) or exemption authority, which would enable it to launch scheduled services to the US.

Bamboo Airways has long floated the idea of becoming the first carrier to launch direct services between Viet Nam and the US. It is targeting West Coast airports, most likely Los Angeles Int'l or San Francisco, CA. In 2019, the Federal Aviation Administration (FAA) updated Viet Nam's assessment to Category 1, thus enabling the launch of direct flights.

The Vietnamese carrier, owned by travel holding FLC Group, has yet to launch any...

LOT Polish Airlines (Mk.II) suspends certification

Viet Nam's Vietravel Airlines receives OL, to launch in 4Q20