Monday,  Oct 26, 2020,05:52 (GMT+7) 0 0
Bamboo Airways eyes US$1 billion in market cap
The Saigon Times
Friday,  Sep 11, 2020,14:00 (GMT+7)

Bamboo Airways eyes US$1 billion in market cap

The Saigon Times

The first Boeing 787-9 Dreamliner of Bamboo Airways - PHOTO: VNA

HCMC – Private carrier Bamboo Airways expects to reach a market capitalization of US$1 billion once it is listed on the local stock market, said a news report on Vietnamplus website.

Bamboo Airways expects to float shares in the last quarter of 2020, as the previous listing plan for the second quarter has been delayed due to the Covid-19 pandemic.

Given its development strategy, the firm would receive 50 million passengers in 2025 given its 120 air routes, including 70 domestic and 50 international routes, and a fleet of 100 aircraft. It aims to reach US$1 billion in market capitalization once it is listed on the stock market and to hold a market share of 30% in 2021.

In December 2019, Dang Tat Thang, general director of Bamboo Airways, stated that it would launch an initial public offering with the stock code of BAV and a starting price of VND60,000.

Bamboo Airways is considering selecting qualified strategic investors, especially those from the United States, Japan and Europe. Shares offered to foreign partners will be no less than VND160,000 each.

With a carefully-built business strategy, the carrier is aware of the strengths and weaknesses of all aircraft to set up suitable solutions for each flight, thus offering safety, saving energy and cutting emissions.

Besides this, the company will continue to launch more flights to East Asia, Europe and America as the expansion scheme has been suspended due to the pandemic.

After two years of operations, Bamboo Airways is determined to focus on new tourist destinations in the country, improve its regional connection and contribute to economic development.

Up to now, the carrier has served over five million passengers and completed 37,000 safe flights. It maintains a punctuality ratio of nearly 96%.

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