Bamboo Airways funds frozen over tax arrears

Bamboo Airways funds frozen over tax arrears

Wednesday, 08 Nov, 2023 0

Vietnam carrier Bamboo Airways has had its funds frozen due to non-payment of tax.

Vietnam tax authorities in Vietnam put a block on the airline’s accounts at three Vietnam banks.

Bamboo has tax arears of VND102 billion (US$4.2 million).

The bank accounts are frozen for 90 days, local media reported.

The airline responded: “Bamboo Airways plans to complete the tax payment in November.”

“The recent payment delays were because we had been focusing on prioritising our customers.”

“When it completes its obligations, the Tax Department of Binh Dinh province will ask the banks to remove the lockdown,” a tax office official said.

The airline has been encountering financial problems of late.

Pilots have left due to late salary payments.

A week ago it suspended all international flights, and is currently in the throes of a business restructuring.

It is also hopeful of raising more capital.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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