At an extraordinary shareholders’ meeting in Hanoi on Thursday, Bamboo Airways chairman Le Thai Sam said the investor group no longer had the financial and governance capacities to sustain operations. He proposed transferring all shares back to FLC Group, the airline’s founder.

“The continued ownership, management, and operation of Bamboo Airways at this point is beyond the financial and governance capabilities of the current investor group,” Sam told shareholders, adding that FLC would provide the stability needed for the next phase.

He asked the AGM to direct the board of directors and the executive board to support the implementation of related procedures, ensuring compliance with current legal regulations.

Sam pledged to stay on as chairman during the transition and take responsibility for guiding Bamboo Airways through restructuring. He also emphasized the commitment of former key investors and advisors to resolving outstanding issues and laying the foundation for future growth.

Sam first joined Bamboo Airways in 2022 and became its largest shareholder. He previously served as chairman from mid-2023 to early 2024 before returning to the role in August 2025.

According to a shareholder petition dated September 22, the group represented by Sam has agreed to transfer all of its shares to businessman Trinh Van Nam under a framework agreement signed on August 21.