Board of Viet Nam's Bamboo Airways resigns after record loss

Four of five directors who resigned after Bamboo Airways released audited details of its record 2022 after-tax loss will be re-elected to the airline's board. The carrier will officially announce the VND17.6t dong (US$747.8m) for the twelve months to December 31, 2022, at its annual general meeting on June 21, when it will also re-elect directors. The directors who have tendered their resignations include the airline's chairman, Nguyen Ngoc Trong, as well as Doan Huu Doan, Le Ba Nguyen, Le Thai Sam. and Nguyen Manh Quan. However, Bamboo's major shareholders, including Le Thai Sam (who holds a 38.28% stake) and Doan Huu Doan (who has a 16.85% stake), have put forward a list of eligble new directors. Both gentlemen renominated themselves for re-election as well as Nguyen Ngoc Trong and Le Ba Nguyen, leaving Nguyen Manh Quan out in the cold. According to the Thuong Truong outlet, also set to join the enlarged seven-person board is Phan Dinh Tue, who is on the board of the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), the lesser known Tran Hoa Binh, and Hideki Oshima, the former director of international relations at JAL. Bamboo's supervisory board will get three new members, including Nguyen Dang Khoa, Nguyen Bich Ngoc, and Nguyen Thi Huu. Former Japan Airlines' chairman Masaru Onishi will become a senior advisor to the board of directors. The two Japan Airlines alumni appeared on the scene after Bamboo's parent company, FLC Group and its chairman, sold down their stakes in the airline to an undisclosed investor earlier this year.<br/>