Business

Bamboo Airways allowed to expand its fleet to 30 aircraft

By Duc Anh June 24, 2019 | 10:39 AM GMT+7

Bamboo Airways, the airline owned by FLC Group, has got the green light from the Ministry of Transport (MoT) to raise its fleet to 30 aircraft by 2030.

Given the increased fleet, MoT has also requested the airline to hire more pilots as well as technicians and flight attendants accordingly.

Taking into account the country’s development plan for air transport until 2020 with orientation towards 2030, the growth target for air transport is set at an average 16 per cent a year for the period of 2015-2020, and 8 per cent a year in the following five years.

To accommodate such growth, MoT has estimated each airline would need at least 25-30 aircraft to operate efficiently and stably during the period.

Bamboo Airways, as such, will be allowed to raise its current fleet of 10 to 30 by 2023.

Following its establishment earlier this year, the airline has operated 10 aircraft consisting of Airbus A319, A320 and A321 NEO models. It has to date run 6,606 flights, transporting 800,000 passengers and attaining an occupancy of 80 per cent.

In March, the airline requested MoT to reissue its business license as it swelled its chartered capital from VND700 billion ($30.42 million) to VND 1.3 trillion ($56.52 million) and adjusted its plan to bolster its fleet from 10 to 30.

In February, Bamboo Airways announced its order of ten 787-9 Dreamliners valued at $3 billion, aiming at serving the long-haul flights connecting Vietnam to other destinations in Asia, Europe and North America.

Established last July, Bamboo Airways is Vietnam’s fifth airline. It began commercial operations in January, offering routes between Hanoi and Ho Chi Minh City with other cities in Vietnam.

The airline is wholly owned by the FLC Group, a Vietnamese multi-industry corporation dedicated to real estate, finance, aviation, golf, mining and others.