Bamboo Airways’ CEO’s ‘ambitious’ objective is to break even by 2025

Nội Dung Chính

Bamboo Airways’ CEO’s ‘ambitious’ objective is to break even by 2025

Bamboo Airways hopes to break even in 2025 and become profitable in the following years, CEO Luong Hoai Nam has said.
Bamboo Airways' CEO's 'ambitious' objective is to break even by 2025
Bamboo Airways’ CEO’s ‘ambitious’ objective is to break even by 2025

Bamboo Airways with a target of 2025

Speaking at the company’s annual general meeting Wednesday, he said: “2024 will be the last year we record losses.”
“The financial burden has been considerably reduced, and the airline no longer has debts from aircraft lease.” Bamboo Airways plans to list its shares on a stock exchange in the next three years, he said.
But these are “ambitious targets” based on the assumption market conditions would be favorable, he said.
The carrier saw revenues rise by 14% last year to VND12.4 trillion (US$489 million) and losses fall by 80% to VND34 billion. But it had a challenging year otherwise due to major changes in leadership as it went through a restructure.
There were times when it faced the risk of closure as its partners stopped providing services due to large overdue debts. It had to cease flying overseas and focused its resources on high-demand domestic routes.
It now operates eight narrow-body jets and eyes revenues of VND4.85 trillion this year and expects post-tax loss to be VND1.38 trillion. But if the cost of restructuring is excluded, operational losses are forecast to be around VND500 billion.
The airline needs VND2.27 trillion in the short term to pay debts and for engine maintenance. It is looking for funding from credit organizations both in Vietnam and abroad.
Shareholders have also given approval for its management to look for new investors. Bamboo Airways plans to expand its fleet to 12 by the end of this year and 18 next year.

History of Bamboo Airways

Established in 2017 and officially taking off on January 16, 2019, Bamboo Airways is the first private airline in Vietnam to provide high-quality services under the traditional model (Full-Service Carrier).

On the journey to explore the sky, Bamboo Airways has connected potential destinations, thereby bringing good values of Vietnamese culture and people to the rest of the world.

Bamboo Airways' CEO's 'ambitious' objective is to break even by 2025
Bamboo Airways’ CEO’s ‘ambitious’ objective is to break even by 2025

Up to now, Bamboo Airways has established itself among the three leading airlines in Vietnam, with three crucial pillars: The leading on-time performance in the domestic aviation industry, the growing inter-regional and inter-continental network, and services of quality and dedication.

The leading on-time performance in the domestic aviation industry.

We always put the satisfaction and benefits of customers at the top priority of Bamboo Airways. Therefore, since our very first days, we have worked tirelessly for the passengers to have safe and punctual flights.

Since 2019, Bamboo Airways has maintained its position as the most punctual airline in Vietnam, with an average punctuality rate (OTP) of over 95%.

The growing inter-regional and inter-continental route network

Prioritizing the connection of crucial airports to fulfill the travel needs of passengers, Bamboo Airways has strongly developed the inter-regional and intercontinental flight network in scale and frequency.

We currently operate a flight network connecting domestic airports in Vietnam. As a result, Bamboo Airways has contributed to making Vietnam the aviation gateway of Southeast Asia in particular and Asia in general, thus lifting Vietnamese presence on the world map.

Services of quality and dedication.

In the hope of bringing excellent services on every step of the journey, Bamboo Airways has focused on fulfilling customer experience at every touchpoint.

On the ground, Bamboo Airways operates the largest business lounge chains among Vietnamese private airlines. First Lounge by Bamboo Airways is luxuriously designed with many functional areas, meeting different needs of customers from working to relaxing. Exquisite menus embracing tasty local flavours of each destination will send passengers to cloud nine before boarding.

Throughout the journey, our cabin crews pay special attention to passengers and provide wholehearted support to make them feel valued and cared for. Believing “what comes from the heart, goes to the heart,” our cabin crews always welcome passengers with a bright smile and one hand on their hearts.

The modern fleet with diverse aircraft models and sophisticated cabin design offers the utmost convenience to passengers on every flight.

The inflight menus offer a variety of dishes and beverages carrying the world’s culinary quintessence. The Bamboo Sky entertainment system and in-flight magazines with inspirational content will bring passengers moments of comfort and relaxation.

The service quality of Bamboo Airways has been recognized by numerous customers and media with many prestigious global awards. Proud to offer services beyond expectation, Bamboo Airways believes that’s the meaning of “More than just a flight.”

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