On September 25, 2025, in Hanoi, the 2nd Extraordinary General Meeting of Shareholders (EGM) for the fiscal year 2025 of Tre Viet Aviation Joint Stock Company (Bamboo Airways) took place.
Shareholders voting at the Extraordinary General Meeting
FLC Agrees to Take Over Bamboo Airways
During the event, Bamboo Airways’ Chairman of the Board of Directors, Le Thai Sam, stated that continuing to own, manage, and operate Bamboo Airways at this time exceeds the financial and management capabilities of the new investor group.
“Therefore, I have requested the FLC Group to consider taking over the ownership, management, and operation of Bamboo Airways,” said Mr. Le Thai Sam.
The Chairman of the Board of Directors reported to the EGM on the plan to transfer all shares of the investor group to the FLC Group and requested the EGM to direct the Board of Directors and the Management Board to support the implementation of related procedures, ensuring compliance with current legal regulations.
Mr. Le Thai Sam will continue to accompany the airline as Chairman of the Board of Directors and commits to taking responsibility for Bamboo Airways’ operational results during the restructuring phase. “Choosing to continue accompanying Bamboo is my affirmation of the efforts and commitments in my personal capacity, as well as on behalf of the former investor group and advisors such as Mr. Doan Huu Doan and Mr. Duong Cong Minh… We will be responsible to the end in resolving outstanding issues and creating a foundation for Bamboo Airways’ new development phase,” said Mr. Sam.
After thorough research and evaluation, the FLC Group has agreed to take over the management of Bamboo Airways.
Additionally, to facilitate the new Board of Directors and Management Board in developing and implementing new business strategies for Bamboo Airways, the EGM approved the principle of provisioning for risks and the final handling plan for all existing investments and loans of Bamboo Airways.
Developing a New Plan for a New Era
At the event, Bamboo Airways’ Management Board reported to the EGM on the results of the “Bamboo Airways Restructuring Plan” and the “Air Transportation Business Plan for 2024-2028,” which the airline had developed and reported to the Prime Minister in Document No. 3142/2023/BAV-HĐQT dated November 23, 2023.
Extraordinary General Meeting of Bamboo Airways
After more than 2 years of implementing the comprehensive restructuring plan, Bamboo Airways has achieved several positive results, such as saving 20% in ground service costs by changing suppliers and self-servicing; maintaining an on-time flight rate among the top in the domestic aviation industry; and achieving an average seat occupancy rate of 90%.
However, most of the cost reductions in Bamboo Airways’ operations came from downsizing the fleet, route network, and workforce. In 2022, the airline operated a fleet of 30 aircraft, including wide-body Boeing 787-9 Dreamliners, narrow-body Airbus A320/A321s, and Embraer E190 regional jets. With this diverse fleet, Bamboo Airways developed a network connecting to 21 out of 22 domestic airports with 66 routes. Simultaneously, it operated 15 regular international routes and regularly conducted international charter flights.
After the fleet restructuring process, Bamboo Airways currently operates 7 single-aisle narrow-body Airbus A320/A321 aircraft, serving 12 high-demand domestic routes, and has temporarily suspended regular international operations, maintaining only international charter flights.
Based on these results, Bamboo Airways’ Chairman of the Board of Directors, Le Thai Sam – a major shareholder representing the investor group accompanying the airline since 2022 – assessed that the airline’s operations have not yet achieved the expected results from the restructuring.
“After a period of managing and operating the company, our investor group has found that air transportation is a very specific business. Objective challenges have significantly impacted Bamboo Airways’ business results and are beyond the control of shareholders and the Management Board,” said Mr. Le Thai Sam.
Therefore, Bamboo Airways’ EGM agreed to halt the implementation of the “Bamboo Airways Restructuring Plan” and the “Air Transportation Business Plan for 2024-2028.”
In its role as the new operator of Bamboo Airways, the FLC Group will focus on developing the Bamboo Airways Development Plan for the 2026-2030 period.
Strengthening the Organizational Structure
During the event, Bamboo Airways’ EGM approved significant personnel decisions, including accepting the resignations of two Board of Directors members, Mr. Pham Ngoc Vinh and Mr. Vuong Cong Duc.
To replace the resigned members, the Chairman of the Board of Directors nominated three new members: Mr. Truong Phuong Thanh, Mr. Bui Quang Dung, and Ms. Phung Thi Thu Thao. The EGM approved these nominations.
Scene from the Extraordinary General Meeting of Bamboo Airways
Thus, the Board of Directors of Bamboo Airways for the 2023-2028 term will consist of six members: Mr. Le Thai Sam, Mr. Nguyen Ngoc Trong, Mr. Le Ba Nguyen, Mr. Truong Phuong Thanh, Mr. Bui Quang Dung, and Ms. Phung Thi Thu Thao.
Additionally, the EGM approved the resignations of four members of the Supervisory Board for the 2023-2028 term and elected three new members: Mr. Dang Ngai, Ms. Tran Thi My Dung, and Ms. Nguyen Thi Thuy Linh.
FLC Regains Ownership and Management Control of Bamboo Airways as New Investor Group Lacks Financial and Operational Capabilities
Following an extensive research and evaluation process, FLC Group has officially taken over the management and operational rights of Bamboo Airways.
Mr. Ly Hoai Van Appointed as Acting CEO of BVBank Effective October 1st
On September 25th, Ban Viet Commercial Joint Stock Bank (BVBank, UPCoM: BVB) announced a change in its senior leadership team. Effective October 1st, 2025, Mr. Ly Hoai Van will assume the role and responsibilities of Acting Chief Executive Officer (CEO).
FLC Takes Over Bamboo Airways
FLC Group has officially regained control of Bamboo Airways, reclaiming management rights from the shareholder group led by Mr. Lê Thái Sâm.
VIX Stock Eyes 333% Profit Surge in 2025 Plan
VIX Securities has announced the convocation of an Extraordinary General Meeting of Shareholders for 2025. The record date for shareholders eligible to attend the meeting is October 9, 2025.
Bamboo Airways Stunned as FLC’s “Headquarters” Hosts Extraordinary Shareholders’ Meeting, Marking a Shift from Trịnh Văn Quyết’s Golden Era
The upcoming extraordinary shareholders’ meeting of Bamboo Airways has sparked interest due to its venue: The West Building in Hanoi. This location holds historical significance as it witnessed the airline’s meteoric rise under the leadership of Trinh Van Quyet.
