HÀ NỘI — Bamboo Airways has officially appointed a new chairman of the board of directors following the first meeting of its 2023–2028 term, marking a key milestone in the carrier’s ongoing restructuring and efforts to strengthen its executive leadership.

Phạm Ngọc Vịnh was elected as chairman, replacing Phan Đình Tuệ, who had held the position for nearly 18 months before stepping down to focus on other strategic responsibilities.

Born in 1970, Vịnh has more than 25 years of experience in investment and corporate management, having held numerous senior leadership roles across major economic organisations. Before formally joining the board, he served as a strategic advisor to Bamboo Airways and contributed significantly to shaping the airline’s development orientation.

The board also welcomed Vương Công Đức as a new member and vice chairman. With nearly 30 years of experience in law, finance and banking, Đức previously served on the board of Bản Việt Commercial Bank and is currently a board member of Sacombank.

His appointment to Bamboo Airways, succeeding Tuệ, who continues his role at Sacombank, is seen as a strategic succession, reinforcing the partnership between the airline and Sacombank — a key financial backer in Bamboo’s restructuring journey.

The board of directors for the new term now comprises five members: chairman Phạm Ngọc Vịnh, standing vice chairman Lê Thái Sâm, vice chairmen Nguyễn Ngọc Trọng and Vương Công Đức, and board member Lê Bá Nguyên.

Bamboo Airways affirmed that completing its corporate governance framework is a crucial step in the comprehensive restructuring process initiated in November 2023. To date, the airline has accomplished over 80 per cent of its targeted objectives, including fleet rationalisation, optimisation of route networks, personnel reorganisation, and improvements in ground service operations.

In 2024, the airline safely operated more than 17,000 flights with a seat load factor of approximately 85.5 per cent, while significantly reducing losses through improved management and cost-saving measures.

According to chief executive officer Lương Hoài Nam, the airline’s financial performance in the first half of 2025 has continued to improve, approaching the break-even point in operations — a critical step toward achieving profitability in the near future.

Bamboo Airways is also in active discussions with both domestic and international financial partners and investors to secure additional resources for its next development phase, although specific terms are still under negotiation.

The reorganisation of the board and positive signals of operational recovery suggest that Bamboo Airways is entering a new stage of development, aiming to build a more stable, efficient and sustainable airline in the coming period. — VNS