Bamboo Airways plans 2020 listing amid travel boom in Vietnam
Bamboo hopes to raise a small US$100 million from the IPO.
Vietnam’s Bamboo Airways, FLC Group-owned nascent airline with first flights started in last January, has a plan to conduct initial public offering (IPO) in 2020, Chairman Trinh Van Quyet of FLC Group told media this week.
He gave no details on the bourse Bamboo would list on.
From launch to IPO within two years would surely set an airline record, casting doubt on Bamboo’s 2020 IPO but the growing aviation industry in Vietnam has room to let Bamboo expand, Forbes reported.
Bamboo is owned by FLC Group, a local conglomerate spanning property and leisure travel. Its private ownership reflects ambition and capability of non-state-owned firms as Vietnam’s economy privatizes.
As a full-service airline, Bamboo is a rare start-up for Asian aviation. Over the last decade, most start-ups outside of mainland China have been low-cost carriers. Bamboo’s fleet comprises 10 aircraft and it has received government approval to grow to 30 in 2023.
Local news portal The Leader has reported that Bamboo has planned to increase the figure to 150 in the 2023-2028 period and the airplane fleet will include narrow-body A319/A320/A321 and wide-body A330/A350 or Boeing B787.
Bamboo has made a few evolutions in its short history.
Bamboo made the first commercial flight on January 16, 2019. Earlier between March and June 2018, Bamboo Airways signed contracts to buy total 44 airplanes worth US$8.8 billion.
The new move of Bamboo somewhat reflects Vietnam’s bustling aviation and industry observers have wondered how Vietnam’s growth can be accommodated.
In reality, the country’s airports are congested, as are many international destinations. There are also questions how the government views fast-growing private airlines taking market share from state-owned Vietnam Airlines, a full-service airline which also owns low-cost carrier Jetstar Pacific, Forbes reported.
Bamboo Airways plans to float shares in 2020
|
He gave no details on the bourse Bamboo would list on.
From launch to IPO within two years would surely set an airline record, casting doubt on Bamboo’s 2020 IPO but the growing aviation industry in Vietnam has room to let Bamboo expand, Forbes reported.
Bamboo is owned by FLC Group, a local conglomerate spanning property and leisure travel. Its private ownership reflects ambition and capability of non-state-owned firms as Vietnam’s economy privatizes.
As a full-service airline, Bamboo is a rare start-up for Asian aviation. Over the last decade, most start-ups outside of mainland China have been low-cost carriers. Bamboo’s fleet comprises 10 aircraft and it has received government approval to grow to 30 in 2023.
Local news portal The Leader has reported that Bamboo has planned to increase the figure to 150 in the 2023-2028 period and the airplane fleet will include narrow-body A319/A320/A321 and wide-body A330/A350 or Boeing B787.
Bamboo has made a few evolutions in its short history.
Bamboo made the first commercial flight on January 16, 2019. Earlier between March and June 2018, Bamboo Airways signed contracts to buy total 44 airplanes worth US$8.8 billion.
The new move of Bamboo somewhat reflects Vietnam’s bustling aviation and industry observers have wondered how Vietnam’s growth can be accommodated.
In reality, the country’s airports are congested, as are many international destinations. There are also questions how the government views fast-growing private airlines taking market share from state-owned Vietnam Airlines, a full-service airline which also owns low-cost carrier Jetstar Pacific, Forbes reported.
20:06, 2024/05/15
EVN to have limited role in direct power purchase agreement mechanism
Government management should be separated from the generation, transmission, and distribution of electricity.
14:22, 2024/05/14
Vietnam's gaming industry aims for $1 billion in revenue by 2028
The Vietnamese gaming industry has a lot of advantages to be able to compete with other countries.
18:01, 2024/05/13
Vietnam c.bank to continue auctioning gold
The authorities would continue to inspect, monitor, and deal with gold smuggling, speculation, or the exploitation of hoarding policies to drive up prices and cause market instability.
12:51, 2024/05/11
South Korea’s Hyosung plans to build data center in Vietnam
Vietnam is recognized as one of the world's top 10 emerging data center markets, with a potential market value of US$1 billion by 2028, driven by an average annual growth rate of nearly 11%.
22:07, 2024/05/10
Vietnam in need of US$12 billion for EV infrastructure: HSBC
By leveraging collaborative relationships and overcoming barriers to electric vehicle adoption, Vietnam has the potential to accelerate its green transportation race.
10:36, 2024/05/10
Samsung to pour US$1 billion annually into Vietnam
Samsung is currently the largest foreign direct investor in Vietnam, with major projects in Bac Ninh, Thai Nguyen and Ho Chi Minh City worth up to US$22.4 billion.
- Vietnam Export Fair 2024: Opportunities to boost exports
- Vietnam's first lotus root export to Japan
- Hanoi to host the Vocational Education Day 2024
- Hanoi tightens e-commerce management
- Q2/2024: Hanoi businesses expect better performance
- Companies, universities team up to develop semiconductor workforce in Vietnam