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.

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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.

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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