Vietnam has never flown more, yet its most ambitious airline just parked its last jets. Demand was never Bamboo’s problem, and that is the warning.
Behind the growth stood FLC Group, the property conglomerate of Trinh Van Quyet, one of Vietnam’s flashiest tycoons. Bamboo was his showpiece, and FLC money fueled a fleet that swelled to 44 aircraft. That connection built the airline. It is also what destroyed it.
The airlines’ financial struggles are particularly confusing as the country is experiencing an aviation boom at the moment. Vietnam handled a record 83.5 million passengers in 2025, up 10.7% year-over-year, and traffic through its airports topped 76 million in the first seven months of 2026, with regulators projecting roughly 94 million for the full year. Airlines are supposed to die in downturns, when demand evaporates and fares crater though Spirit proved that wrong in the US this year – and JetBlue bonds are struggling. Bamboo died at the top of the cycle, in a market growing at double digits, while its competitors add routes and order jets by the hundreds.
A great solo travel tip spotted this week on Live and Let's Fly.
