Prime Minister Nguyen Xuan Phuc has given his approval to the Bamboo Airways investment project at Phu Cat Airport, Binh Dinh province with Viet Bamboo Airlines, a subsidiary of FLC Group as project owner, according to the government decision released on July 9.
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Additionally, the project's life is 50 years since the issuance date of the decision.
At the annual general meeting on June 12, FLC Group Chairman Trinh Van Quyet stated the airlines positions itself similar to traditional carriers such as Vietnam Airlines, instead of being a budget airways.
With regard to this aspect, CEO of Bamboo Airways Dang Tat Thang added that the carrier will offer attractive fares that are a little bit more expensive than those of budget carriers, but with "five-star" services.
"Bamboo Airways is expected to launch its first flight on October 1, 2018," he tipped.
On June 26, FLC reached an agreement with Boeing to purchase 20 Boeing 787-9 Dreamliners for Bamboo Airways in a contract worth US$5.6 billion at current list prices, according to the group.
As part of the agreement, Bamboo Airways completed the deposit requirement in mid-June to reserve the 20 airplanes, which are tentatively schedule to deliver from April 2020 through 2021, Boeing said in a statement.
In May, FLC signed a US$3-billion contract with Airbus to buy 24 A321neo aircrafts, which is expected to be delivered to Bamboo Airlines in the agreed timeline in period 2022 - 2025. The airline also expected to lease an additional 10 aircrafts for operation.
Bamboo Airways plans to provide direct international flights to destinations where FLC Group has resort facilities, such as Quy Nhon, Quang Ninh, Hai Phong, Phu Quoc, and Nha Trang, in addition to domestic flights connecting tourist spots in Vietnam.
Vietnam currently has four airlines, including national carrier Vietnam Airlines, budget operator Jetstar Pacific Airlines (partly owned by Vietnam Airlines), budget carrier Vietjet Aviation, and Vietnam Air Services (VASCO).
