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Bamboo Airways has found a buyer who is also willing to help disgraced former chairman Trinh Van Quyet deal with the financial consequences of his alledged crime.
A spokesperson said Thursday that the identity of the investor would be revealed later.
The buyer has agreed to take over the airline’s entire debts and provide Quyet with the money he might have to pay as fines and indemnification for the stock manipulation which led to his arrest last year.
Property developer FLC held a 51.24% stake in Bamboo Airways, and Quyet personally owned 40.03%. His 30.3% stake in FLC took his total ownership of the airline to 55.5%.
Bamboo Airways said the sale of shares has been approved and supervised by authorities.
The carrier now flies to 21 out of 22 airports in Vietnam and in April will add Ca Mau to its destinations.
Internationally, it has been resuming services to Europe and Australia post-Covid.