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- In the first quarter, Bamboo Airways nearly reached the break-even point.
- The General Meeting of Shareholders did not approve the plan to issue shares privately to restructure debts. 
- The airline official said that the meeting's outcomes won't have an immediate impact on the airline's operations.
On the morning of April 10, 2023, Tre Viet Aviation Joint Stock Company (Bamboo Airways) held the Congress. To provide a strategy for the private placement of shares to restructure loans and offer shares to new investors at the GMS (Annual General Meeting of Shareholders) in 2023. However, this plan was not approved. 

In the first quarter of 2023, Bamboo Airways is "about to reach break-even point"

Chairman of the Board of Directors Nguyen Ngoc Trong also said that in the first quarter, Bamboo Airways was close to breaking even. According to Mr. Trong, if this meeting approves the plan to issue shares to exchange debt and increase capital, the airline will add 6-8 aircraft this year and ten ships in the period 2024 - 2026. Bamboo will be profitable in 2025 and may list in 2026-2027.
According to Bamboo Airways Deputy General Director Nguyen Khac Hai, the airline has experienced three consecutive difficult years right after its establishment due to the Covid epidemic and former President Trinh Van Quyet's labor problems. Mr. Hai said Bamboo Airways' business is still good in the present market conditions, and the airline still maintains flights. However, Bamboo Airways' core business is still at a loss, having to mobilize nearly 8,000 billion VND from investors. At this time, one of Bamboo Airways' most important creditors is an aircraft owner. 
Mr. Hai said that the airline's leadership has repeatedly negotiated with aircraft owners to reduce or delay interest rates. Currently, aircraft owners are still supporting Bamboo Airways, not withdrawing any aircraft.
Bamboo Airways' management has not given up on raising capital. Speaking at the General Meeting of Shareholders, Mr. Nguyen Ngoc Trong, Chairman of the Board of Directors, said that it will take time to supplement information and complete the most feasible capital increase plan for Bamboo Airways. After completion, the capital increase plan will be submitted to the General Meeting of Shareholders for approval at the nearest meeting. According to the airline's chairman, Bamboo Airways has 30 aircraft and is nearly at capacity as of the first quarter of this year. He said that in Vietnam, no airline has operated with the same efficiency as Bamboo Airways. 
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In 2022, there are still losses, thousands of billions in debt to partners 

The Extraordinary General Meeting of Shareholders has not yet announced financial statements, business results, and specific debts of Bamboo Airways other than the information that it is "about to reach break-even point" in the first quarter of 2023.
At the Extraordinary General Meeting of Shareholders at the beginning of March 2023, at the document provided to shareholders, leaders of FLC - an associate company of Bamboo Airways, said that FLC had invested 4,015 billion VND in Bamboo Airways, equivalent to the rate of 21.7% of the charter capital of this airline. 
FLC's consolidated financial statements for the third quarter of 2022 also confirm this information. At the same time, the report said that FLC has made a provision of VND 1,269 billion for the above investment, an increase of VND 768 billion in the first nine months of 2022. Usually, that is the loss of the company receiving the investment (here, Bamboo Airways). 
If calculated according to the ownership ratio announced by FLC, Bamboo Airways' estimated loss in the first nine months of 2022 is over 3,500 billion VND. Actual loss may be lower as FLC's shareholding ratio in Bamboo Airways has decreased in 2023. 
Bamboo Airways' most important creditors are aircraft owners, according to Mr. Nguyen Khac Hai. However, this data has not been published in detail.
In Vietnam, a significant "creditor" of airlines is the Airports Corporation of Vietnam (ACV), which provides civil airport services. 
ACV's 2022 audit report shows that Bamboo Airways owes ACV 1,230 billion dongs by the end of 2022. In particular, 857 billion dongs are overdue. ACV has set aside 371 billion VND for bad debts owed to Bamboo Airlines.
The airline's representative said that the conclusion of the meeting (without approving the capital increase plan) will not affect the airline's business activities in the short term. 
However, in the long term, the pressure of loans, commercial debts, etc. may cause Bamboo Airways to lack cash flow, directly affecting the airline's business operations. 
Recently, a representative of Bamboo Airways announced that it had found a new investor to replace the group related to former FLC Chairman Trinh Van Quyet. Its new investor has agreed to inherit and be responsible for the principal and interest payments on previous loans. The old shareholders used the shares of this airline to pledge and mortgage at the bank.
Read more: FLC appoints new CEO » Breaking News, Latest World News Updates - VietReader Viet Nam
At the same time, the new investor also supported Mr. Quyet with a particular amount of money to be paid into the blocked account of the investigating police agency to overcome the consequences (if any) according to the case. 
The Extraordinary General Meeting of Shareholders refused to disclose the name of this new investor.

Also read:
- Bamboo Airways sẽ bay 60 chuyến noi địa/ngay (trangcongnghe.vn) 
- Tập đoan FLC chính thuc ra mắt hãng Hang khong Bamboo Airways (trangcongnghe.vn)