NCB Bank to Sell Bamboo Airways Shares at $0.23

NCB Bank plans to sell its 203 million Bamboo Airways shares at VND5,500 ($0.23) to cover the loans given to the airline.

The proposed price and payment method will minimize cost and execution time, according to the bank.

The shares make up 11% of the airline’s capital, which is worth VND18.5 trillion. Bamboo Airways is undergoing changes in its senior management and board of directors, with the appointment of Vietnam Airlines ex-deputy director Nguyen Minh Hai as CEO.

The airline is also set to restructure with the help of two former senior executives of Japan Airlines, Masaru Onishi and Hideki Oshima, who will join its management team.