Bamboo Airways earns over 300 billion VND in 2019 profit

Before-tax profit of Bamboo Airways is estimated at 303 billion VND (13.1 million USD) in 2019, which is expected to surge to 1 trillion VND this year, said the carrier's General Director Dang Tat Thang.

It also plans to list on Ho Chi Minh Stock Exchange in the second quarter of this year.

The carrier has mapped out a plan to launch initial public offering at a starting price of 60,000 VND per share, and expected to reach 1 billion USD worth of capitalisation.

It is also choosing strategic investors among potential and experienced investors from the US, Japan and Europe with an aim to sell not below 160,000 VND per share.

Last year, Bamboo Airways ran nearly 20,000 flights with about 3 million passengers and punctuality rate of over 94 percent.

In late 2019, it received the first Boeing Dreamliner 787-9, becoming the first private airline in Vietnam to use wide-body aircraft. The airline was also awarded the Operational Safety Audit (IOSA) certificate from the International Air Transport Association (IATA) within nearly one year since its establishment.

The airline set the goal of achieving 30 percent of domestic market share this year, expand its network to 85 routes, including 60 domestic and 25 foreign ones. Its fleet will also be extended from the current 25 aircraft to 100, with 12 wide-body Boeing Dreamliner 787-9.

Source: Vietnam News Agency