After Bamboo Airways hiked charter capital to VND10.5 trillion ($458 million) in February, Vietnamese conglomerate FLC Group’s shares in the airline has reduced from 51.29 percent to 39.4 percent. 

Airplane airbus A320 of Bamboo Airways about to land at the Tan Son Nhat 
International Airport, HCMC. Photo by Shutterstock/Huy Thoai.       

In February 2021, the airlines increased its charter capital for the fifth time to VND10.5 trillion, all of it contributed by private investors. With this adjustment, Bamboo Airways ranks second in terms of charter capital among six domestic airlines, only behind flag carrier Vietnam Airlines with VND14.2 trillion.The airline was founded in May 2017 with a total charter capital of VND700 billion. In less than four years, it has increased its charter capital five times.

In 2020, the airline reported a 34 percent year-on-year increase in pre-tax profits to VND400 billion. It was among the few airlines which made a profit during the pandemic year.

It also had the best on-time performance in 2020, with the on-time performance rate of 96 percent. In the first two months of 2021, the rate has increased to 97 percent.

Property developer FLC, which currently owns 39.4 percent stake of Bamboo Airways, posted VND421 billion in pre-tax profit in 2020, a year-on-year increase of 43 percent.