Mr. Le Thai Sam: We Take Full Responsibility for Bamboo Airways’ Legacy Issues

“Returning Aircraft Was a Major Mistake”

On December 4th, Mr. Lê Thái Sâm acknowledged that the restructuring efforts by the former investor group fell short of expectations. The airline’s fleet, route network, and financial capabilities were significantly reduced. He affirmed that returning Bamboo Airways’ management to the FLC Group was the right decision.

Mr. Sâm expressed regret that when the investor group took over Bamboo Airways in 2022, the airline was a “rising star in the skies,” with nearly 30 aircraft and 60 routes covering the entire country, including unique destinations like Côn Đảo and Điện Biên, as well as ambitious international routes. However, by the time the group handed back control to the FLC Group on September 25, 2025, the airline had only 7 aircraft, 12 domestic routes, and substantial debt.

Mr. Sâm identified the return of most aircraft as a critical error during the restructuring process, which severely reduced the airline’s operational capacity and revenue, making financial recovery even more difficult. “Expanding the fleet, increasing flight frequency, and broadening the route network are essential to boost revenue, strengthen cash flow, and address outstanding debts,” he stated.

Addressing Outstanding Debt Through a Structured Plan

According to an independent audit report by the former investor group on July 31, 2025, Bamboo Airways owed over 9 trillion VND to suppliers. The largest debt was to the Airports Corporation of Vietnam (ACV), totaling approximately 2.6 trillion VND, with 80% incurred during the former group’s management. Other debts included nearly 1 trillion VND to fuel suppliers, almost 4 trillion VND to Sacombank, and nearly 3 trillion VND to other banks, financial institutions, and individuals.

“During the restructuring phase, we faced challenges due to both internal and external factors, such as market volatility, which delayed payments to suppliers beyond agreed terms,” Mr. Sâm explained.

The former Chairman of Bamboo Airways stated that when handing over management to the FLC Group, he and Mr. Dương Công Minh committed to settling these debts. “This commitment remains unchanged. We will take full responsibility for resolving issues stemming from the failed restructuring phase,” Mr. Sâm emphasized.

Regarding the debt resolution plan, Mr. Lê Thái Sâm expressed hope that creditors would collaborate to find a definitive solution based on shared responsibility and long-term partnership. He emphasized the need for a debt restructuring plan aligned with the airline’s new financial foundation and credit strategy. Debts to ACV are prioritized for early settlement.

“I understand a monthly and annual payment plan is being prepared. Previously, Bamboo Airways relied heavily on one bank. Now, the airline is diversifying its credit relationships and expanding limits to ensure capital for fleet restructuring, operations, and debt repayment. I am confident that once credit flows improve, this plan will be executed more swiftly,” Mr. Lê Thái Sâm said, reiterating, “Mr. Dương Công Minh and I will take responsibility for debts incurred during the restructuring phase from August 2022 to September 25, 2025.”

A New Development Trajectory

In December, Bamboo Airways will add aircraft to increase capacity for the 2026 Tet peak season, implementing a strategic and sustainable expansion plan to restore its fleet and return to a new growth trajectory.

“This is a positive step and a crucial foundation for Bamboo Airways’ redevelopment phase, starting from 2026–2030. I believe the airline will regain its competitive edge in the high-quality aviation service segment,” Mr. Lê Thái Sâm predicted.

The former Chairman also expressed confidence in the airline’s future under the FLC Group’s renewed leadership, with a new, unified management team and a sustainable development strategy poised to restore Bamboo Airways to its “golden era.”