On February 5, 2024, Bamboo Airways JSC (Bamboo Airways, OTC: BAV) issued a resolution appointing Mr. Phan Dinh Tue as the Chairman of the Board of Directors for the term 2023-2028. This decision will take effect from February 7, 2024.
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 restructuring process of the airline.
Mr. Tue joined Bamboo Airways in June 2023 with the goal of supporting the restructuring of the airline. So far, he has held multiple positions at Bamboo Airways, starting as a Member of the Board of Directors, then the Deputy Chief Executive Officer, and now the Chairman.
Before joining the airline with the iconic green color, Mr. Tue served as the Deputy General Director of Sacombank from 2012 and has over 40 years of experience in the finance and banking industry. Currently, he is still a member of the Board of Directors at Sacombank.
In terms of the relationship, Sacombank is currently a major creditor of Bamboo Airways and is also a major sponsor 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 Sacombank is a credit institution, investing outside the industry requires the implementation of procedures and the approval of regulatory agencies.
Therefore, after the latest changes, the current structure of the Bamboo Airways Board of Directors includes: Mr. Phan Dinh Tue, Chairman of the Board of Directors; Mr. Le Thai Sam, Deputy Chairman of the Board of Directors; Mr. Le Ba Nguyen, Deputy Chairman of the Board of Directors; Mr. Nguyen Ngoc Trong, Deputy Chairman of the Board of Directors; and Ms. Le Thi Truc Quynh, Member of the Board of Directors.
The airline aims to achieve breakeven point in 2025 and gradually increase operational efficiency in the following years. At the same time, it aims to expand the fleet size from 30-50 aircraft in the period 2026-2028, expand domestic and international network of routes.