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    FLC   VN000000FLC6

FLC GROUP JOINT STOCK COMPANY

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FLC Joint Stock : Vietnam's Bamboo Airways to sign $2 billion deal with GE for engines on Boeing jets

09/20/2021 | 11:53pm EDT
Crew members stand near an Airbus A321 aircraft of Bamboo Airways before a flight at Noi Bai airport in Hanoi

HANOI (Reuters) - Vietnam's Bamboo Airways will sign a deal valued at nearly $2 billion with General Electric to purchase GEnx engines to power Boeing 787-9 Dreamliner aircraft, the airline said on Tuesday.

The deal will be signed in the United States later on Tuesday in the presence of Vietnam President Nguyen Xuan Phuc, Bamboo said in a statement.

The GEnx engines, due to be delivered in 2022, will be used on the airline's wide-body Dreamliner fleet to operate planned non-stop routes between Vietnam and the United States, the company said.

"This new signing agreement will be an important milestone for the airline to expand its transcontinental flight network, connecting Vietnam with medium- and long-range markets," the statement said.

The airline said it will open a representative office in the United States and sign agreements with San Francisco International Airport and Los Angeles International Airport this week, paving the way for its first test of a non-stop flight between the countries on Thursday.

Bamboo said it aims to finalise procedures for non-stop commercial flights to the United Sates early next year, pending government approvals.

Bamboo said it is also seeking to expand its international flight network and open more routes to Australia, the United Kingdom and Germany, using its Boeing 787-9 Dreamliner aircraft.

(Editing by Tom Hogue and Ed Davies)


ę Reuters 2021
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Financials
Sales 2020 13 488 B 593 M 593 M
Net income 2020 160 B 7,04 M 7,04 M
Net Debt 2020 5 217 B 230 M 230 M
P/E ratio 2020 19,8x
Yield 2020 -
Capitalization 8 520 B 374 M 375 M
EV / Sales 2019 0,56x
EV / Sales 2020 0,63x
Nbr of Employees -
Free-Float 69,7%
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Managers and Directors
Huyen Hai Bui Chief Executive Officer & Director
Quyet Van Trinh Chairman
Kieu Dung Tran Huong Vice Chairman
Hien Quy La Director & Deputy Chief Executive Officer
Thang Tat Dang Vice Chairman