How many shares does Mr. Trinh Van Quyet own in Bamboo Airways?

03/31/2022 14:55 GMT+7

Since its establishment on May 31, 2017, Bamboo Airways has increased its capital 8 times.

According to corporate data, as of June 1, 2021 (before the last capital increase), the largest shareholder of Bamboo Airways is Mr. Trinh Van Quyet, Chairman of the Board of Directors of the company. The remaining major shareholders include: FLC Group, FLC Holding Capital, FLC Faros. Mr. Trinh Van Quyet and the group of shareholders belonging to the above FLC ecosystem own 94% of the shares of Bamboo Airways. Other individual and institutional shareholders account for the remaining 5.75% of Bamboo Airways’ shares.

According to the latest data from the Civil Aviation Administration, FLC Group is the largest shareholder in Bamboo Airways with a capital contribution rate of 51% (VND 3,586 billion). Mr. Trinh Van Quyet is the second largest shareholder, with a capital contribution ratio of 40% (VND 2,800 billion), other shareholders 8.7% (VND 610 billion).

Mr. Quyet personally holds about 30% of the shares of FLC. If including this capital, Mr. Quyet is contributing about 3,800 billion VND to Bamboo Airways (equivalent to 51.2%). The rest is more than 48% of 7,000 billion VND (according to Business License), equivalent to more than 3,000 billion.

Regarding the fact that Bamboo Airways Chairman Trinh Van Quyet has just been arrested for manipulating securities prices, a representative of the Civil Aviation Administration of Vietnam believes that according to the Charter of Carriage, the Chairman of Bamboo Airways personally will not have the right to decide on the matter. company development strategy, business development plan as well as fleet development plan. The legal representative is Mr. Dang Tat Thang (General Director) will be in charge of the whole.

“According to Decree 89, the minimum capital to maintain the operation of a fleet of 30 ships or more is 700 billion VND. This also means that even if Mr. Trinh Van Quyet’s capital contribution is not included, the remaining amount is still enough to meet the requirements as required by regulations,” a representative of the Civil Aviation Administration of Vietnam affirmed.

The Civil Aviation Administration of Vietnam has affirmed that it will monitor Bamboo Airways’ activities more closely in the coming time.

Up to now, Bamboo Airways is operating 29 aircraft. In which, most recently, on December 5, 2022, there was an A319 aircraft that will end the lease contract. The other ships all end their contracts in 2024, 2025 and beyond.

The Civil Aviation Authority of Vietnam has not received any documents from the aircraft leasing organization as well as the authorized organization requesting to suspend the operation of Bamboo Airways’ aircraft.

It is known that from March 31, 2022, Mr. Dang Tat Thang will officially assume the position of Chairman of the Board of Directors of FLC Group Joint Stock Company and Tre Viet Aviation Joint Stock Company until there is a new decision of the General Meeting of Shareholders. & Board of Directors.

Thus, up to now, the position of Chairman of the Board of Directors of FLC Group and Chairman of the Board of Directors of Bamboo Airways will be held by Mr. Dang Tat Thang. The rights of FLC shareholders and Bamboo Airways shareholders correspond to all the shares that Mr. Trinh Van Quyet owns in the two enterprises and other assets and rights of Mr. Quyet are performed by Ms. Vu Dang Hai Yen on behalf of Mr. Power of attorney signed by Mr. Quyet earlier.

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