On February 5th, 2024, Bamboo Airways Joint Stock Company (Bamboo Airways, OTC: BAV) issued a resolution to appoint Mr. Phan Dinh Tue as the Chairman of the Board of Directors for the 2023-2028 term. This decision will take effect from February 7th, 2024.
Mr. Phan Dinh Tue (holding flowers) receiving the appointment decision 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 restructuring process of the airline.
Mr. Tue joined Bamboo Airways in June 2023 with the goal of supporting the airline’s restructuring. So far, he has held multiple positions at Bamboo Airways, starting as a member of the Board of Directors, then Deputy Chairman, and now Chairman.
Prior to joining the airline with its green emblem, Mr. Tue was the Deputy CEO of Sacombank from 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 the relationship, Sacombank is currently a major creditor of Bamboo Airways and is also heavily involved in sponsoring the airline. At an extraordinary meeting held on September 15th, 2023, Mr. Tue shared that Sacombank has a plan to invest in Bamboo Airways.
However, as Sacombank is a credit institution, investments outside its industry need to go through procedures and obtain approval from regulatory agencies.
Therefore, after the latest change, 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, member of the Board of Directors.
The airline strives to achieve breakeven in 2025 and gradually improve its operational efficiency in the following years. At the same time, it aims to increase its fleet size from 30-50 aircraft from 2026-2028, expand its domestic and international flight networks.
By Vu Hao