On February 5, 2024, Bamboo Airways (OTC: BAV) has issued a resolution appointing Mr. Phan Dinh Tue as the Chairman of the Board of Directors for the term 2023-2028. This decision comes into effect on February 7, 2024.
Mr. Phan Dinh Tue (holding flowers) receiving the appointment as Chairman of Bamboo Airways’ Board of Directors.
According to Bamboo Airways, this appointment aims to meet the necessary conditions for new development goals in the new phase, as well as accelerate the progress of the airline’s restructuring.
Mr. Tue joined Bamboo Airways in June 2023 with the goal of supporting the airline’s restructuring. He has since held various positions within Bamboo Airways, starting as a Member of the Board of Directors, then Deputy Chairman, and now Chairman.
Prior to joining the airline with its iconic green logo, Mr. Tue served as Deputy General Director of Sacombank since 2012 and has over 40 years of experience in the finance and banking industry. Currently, he still serves as a member of the Board of Directors at Sacombank.
In terms of relationship, Sacombank is currently a major creditor of Bamboo Airways and also participates in significant sponsorship of Bamboo Airways. At an extraordinary meeting held on September 15, 2023, Mr. Tue shared that Sacombank has a policy of investing in Bamboo Airways.
However, as a credit institution, Sacombank needs to follow certain procedures and obtain approval from regulatory agencies when investing outside its sector.
With the latest changes, the current structure of Bamboo Airways’ Board of Directors includes: Mr. Phan Dinh Tue, Chairman of the Board; Mr. Le Thai Sam, Deputy Chairman; Mr. Le Ba Nguyen, Deputy Chairman; Mr. Nguyen Ngoc Trong, Deputy Chairman; and Ms. Le Thi Truc Quynh, Board Member.
The airline strives to achieve breakeven point by 2025 and gradually increase operational efficiency in the following years. At the same time, it aims to expand its fleet size from 30 to 50 aircraft in the 2026-2028 period, and expand its domestic and international network.