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Following Sacombank, MSB has announced that it will seize a number of Bamboo Airways’ assets. The seized assets include 387 land-use rights and land-attached assets across several projects, including the Dak Doa complex, the NhonHoi ecological tourism urban area in Gia Lai, and the FLC Sam Son ecological-tourism urban area in Thanh Hoa. MSB said the seizure will take place after May 10, and that the disposal of the collateral assets will be carried out in accordance with the signed agreements and applicable law.
MSB’s announcement specifies that the seized assets include land-use rights covering 86,308.9 m², corresponding to 355 land-use certificates, along with ownership of houses and other assets attached to the land at the Dak Doa complex in Gia Lai. The assets are owned by FLC Group JSC, and the land-use rights are valid until July 27, 2071.
MSB stated that the seizure period will occur after May 10. Separately, Sacombank’s seizure period runs from April 22 to June 22. Sacombank also required that, within 15 days of receiving its notice, the guarantor cooperate in handing over the assets for disposal in accordance with regulations.
Before MSB’s announcement, Saigon Thuong Tin Bank (Sacombank) issued a notice requiring the collateral holder or asset custodian to voluntarily hand over assets and the legal documents needed to handle bad debts related to Bamboo Airways before March 27.
According to Sacombank, the seizure is linked to the borrower and the guarantor violating debt repayment obligations and commitments under the loan and mortgage contracts.
Bamboo Airways was established by the FLC Group in 2017, with its first commercial flight in early 2019. The airline’s founder, Trịnh Văn Quyết, has recently been engaging with Boeing representatives to discuss restarting previously signed aircraft-purchase contracts and exploring opportunities to strengthen cooperation in line with the airline’s new development direction. Bamboo Airways is also expanding recruitment and training to support its development plan. For the 2026–2030 period, the airline aims to expand its fleet to around 30 aircraft, subject to government approval.
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