Wednesday,  Sep 26, 2018,07:47 (GMT+7) 0 0
Deputy PM directs investment of Bamboo Airways project
The Saigon Times Daily
Friday,  Jun 22, 2018,13:47 (GMT+7)

Deputy PM directs investment of Bamboo Airways project

The Saigon Times Daily

HCMC – Deputy Prime Minister Trinh Dinh Dung has asked the Ministry of Planning and Investment to draft a Prime Minister decision on in-principle approval of the Bamboo Airways air transport project, in line with the Investment Law.

The airline is set to be headquartered at Phu Cat Airport in the south-central coastal province of Binh Dinh.

The investment scale of the project is in accordance with regulations in Government Decree 92/2015 requiring a fleet of at least three planes to operate an air transport business.

The project is also aligned with the master plan for the socioeconomic growth of Binh Dinh Province until 2020 and the master plan for developing aviation transport until 2020, with a vision to 2030, approved by the Prime Minister.

The ministry stated that Bamboo Airways, a unit of property developer FLC Group, now satisfies the requirements regarding owner’s equity. Meanwhile, FLC Group has pledged to provide mobilized capital for Bamboo Airways to facilitate its business operations.

The holding company is also committed to raising Bamboo Airways’ chartered capital, so that it can meet the minimum capital requirement for setting up and maintaining its aviation transport activities in line with prevailing civil aviation regulations.

The ministry had earlier proposed the prime minister consider granting in-principle approval to the Bamboo Airways air transport project.

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