Specifically, Chairman of FLC Group cum Chairman of Bamboo Airways Trinh Van Quyet additionally contributed VND1,738 billion ($75.9 million) and FLC Group VND550 billion ($23.9 million).

Thus, Quyet and FLC Group are still the two largest shareholders of Bamboo Airways, where FLC Group, related personnel and member companies hold nearly 90 percent of Bamboo Airways’ stake.

Additional financial resources play the role of an essential launching pad for Bamboo Airways' drastic expansion of operations in 2021, including increasing the fleet to at least 50 aircraft; carrying the process of renovating the airline into a 5-star carrier; comprehensive digitization; expanding the domestic flight network to all provinces and cities nationwide; restoring international flights after the Government’s permission to resume international flights.

In 2020, Bamboo Airways' pre-tax profit reached more than VND400 billion ($17.4 million), an increase of nearly 34% year on year and Bamboo Airways was among a few number of airlines to make profit worldwide.

After auditing, FLC Group recorded pre-tax profit of over VND421 billion ($18.3 million) and after-tax profit of nearly VND308 billion ($13.4 million), up by 43% and 68% respectively compared to the cumulative profit for the whole year recorded in previous Q.4 financial statement.

PV