All 5 members of the Board of Directors of Bamboo Airways for the 2019-2024 term have resigned, including Mr. Nguyen Ngoc Trong, Doan Huu Doan, Le Ba Nguyen, Le Thai Sam and Nguyen Manh Quan. At the 2023 Annual General Meeting of Shareholders scheduled to take place on June 21, the Board of Directors of Bamboo Airways will submit to shareholders for approval the official dismissal of the above 5 members and elect members of the Board of Directors of the company for the 2023-2028 term.
All 5 members of the Board of Directors and 3 members of the Supervisory Board of Bamboo Airways have resigned.
At the same time, the company proposed the number of members of the Board of Directors for the new term 2023 - 2028 to be 7 members. In addition, Bamboo Airways has also received resignation letters from all 3 members of the Board of Supervisors, namely Mr. Tran Anh Tuan, Pham Van Phung and Nguyen Dang Khoa. Therefore, the Board of Directors will also submit to shareholders for approval the dismissal of the members of the Board of Supervisors and the election of new members of the Board of Supervisors for the term 2023 - 2028.
Among the five members of the Board of Directors who resigned, Mr. Nguyen Ngoc Trong is the first Deputy General Director of Bamboo Airways and has been Vice Chairman of the Board of Directors of Bamboo Airways since mid-April 2022. Mr. Doan Huu Doan is the Permanent Vice Chairman of the Board of Directors of Bamboo Airways for the 2019-2024 term and is the Permanent Deputy General Director; Mr. Le Ba Nguyen is currently the Chairman of the Board of Directors of FLC Group. Mr. Nguyen is the brother of Ms. Le Thi Ngoc Diep - wife of former FLC Chairman Trinh Van Quyet; Mr. Le Thai Sam is a newly elected member of the Board of Directors in July 2022 and is also the person who has recently been mentioned a lot when he owns 231.74 million shares of Bamboo Airways, equivalent to 12.53% of charter capital as well as lending the company a total principal and interest of VND 7,727 billion (no interest or very low interest, no collateral); Mr. Nguyen Manh Quan is the newly replaced General Director at the end of May.
Since the arrest of former FLC Group Chairman Trinh Van Quyet for stock manipulation, the leadership of FLC itself and its member companies such as Bamboo Airways has changed continuously. Recently, at the end of May, the airline appointed Mr. Nguyen Minh Hai as the company's General Director to replace Mr. Nguyen Manh Quan.
Most recently, Bamboo Airways also announced its 2022 audited financial report with net revenue of more than VND 11,732 billion, 3.3 times higher than its revenue in 2021. However, the airline suffered a record loss of up to VND 17,619 billion, bringing its accumulated loss by the end of 2022 to nearly VND 19,336 billion. This caused the company to have negative equity of VND 836 billion.
The airline said the reason was due to the impact of difficulties in the Northeast Asian market and the Russia-Ukraine conflict, which caused fuel prices to skyrocket. At the same time, the company has set aside nearly VND9,700 billion in provisions for short-term receivables that are difficult to collect and VND2,800 billion in provisions for long-term receivables that are difficult to collect...
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