(NADS) - On July 17, at the 2024 annual shareholders' meeting, Bamboo Airways announced that it needs to add about VND1,690 billion in capital in the last 7 months of 2024 to meet operating needs. At the same time, the airline also officially announced that it has paid off all its aircraft rental debts, aiming to list on the stock exchange.
Although the fleet is down 19% compared to 2022 due to restructuring, Bamboo Airways' net revenue from sales and service provision still increased by 6%, reaching VND 12,392.9 billion. Profit after tax changed from negative VND 19,798.4 billion in 2022 to positive VND 236.8 billion in 2023. The company's total liabilities decreased by about VND 2,000 billion and currently has no aircraft lease debt.
Bamboo Airways has changed its ground service provider from SAGS HGS to Pacific Airlines and implemented self-service, helping to save 20% of ground service costs per flight. The airline also successfully negotiated the conversion of the passenger service system (PSS), expected to be implemented in April 2025, saving at least 20 million USD in the next 5 years.
According to the 2024 plan, Bamboo Airways expects total revenue to reach about VND4,857 billion, with losses decreasing to VND1,387 billion. The airline will operate 9 Airbus narrow-body aircraft, expected to increase to 12 by the end of the year and 18 by the end of 2025 if market conditions are favorable. The average occupancy rate is also targeted to increase from 81% to 85%.
The company will increase the frequency of existing routes and reopen some domestic routes such as Ho Chi Minh City - Da Lat, Ho Chi Minh City - Thanh Hoa , Ho Chi Minh City - Phu Quoc, as well as research the re-exploitation of some international routes such as Ho Chi Minh City - Bangkok.
General Director Luong Hoai Nam emphasized that 2024 will be the last year the company will operate at a loss. From 2025, Bamboo Airways will break even and move towards profit in the following years, aiming to list its shares on the stock exchange within 3 years.
“Restructuring aviation is a very difficult task, but we are committed to doing our best to achieve this goal, hoping that market conditions will be favorable for the company to have positive business results, bringing value to shareholders and passengers,” Mr. Nam shared.
Bamboo Airways is on the path to strong recovery with many specific strategies and plans to optimize operations and expand its flight network. The goal of listing on the stock exchange within the next 3 years is ambitious but feasible, demonstrating the determination and commitment of the company's leadership.
Source: https://nhiepanhdoisong.vn/bamboo-airways-khang-dinh-phuc-hoi-manh-me-dat-muc-tieu-len-san-chung-khoan-14889.html
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