Japan’s Oshima Hideki, formerly the Deputy General Director of Japan Airlines took on the role of Chairman of the Board of Directors at Vietnam’s Bamboo Airways in June. He has since resigned, and is now likely to be removed from the BOD tomorrow, according to VN Express.
Why it matters: Bamboo Airways began life as a subsidiary of Vietnam’s FLC. FLC’s primary business was real estate development, however, amidst the pre-COVID real estate boom that saw real estate firms leveraging themselves up to the hilt, FLC thought it would be a good idea to start an airline. When COVID-19 hit not only did it decimate the travel industry but it also set off a chain of events that saw Vietnam’s real estate sector tank. FLC was up shit creek without a paddle, and then its General Director, Trinh Van Quyet, was arrested for stock market manipulation. Needless to say, reform was afoot for FLC, a part of which was to spin off Bamboo Airways. But Bamboo Airways took its debts and losses with it and has struggled to shake them ever since.
Returning to the VN Express article today, there is a distinct lack of detail as to why Oshima Hideki has left Bamboo Airways, but with his international experience and the fact that he is leaving after only two months, it doesn’t sound like a good thing for the airline. Notably, this seems to be a common occurrence of late, whereby domestic firms hire external experts only to see them pack their bags just months later. Vietnam’s Vinfast similarly brought in a swathe of international talent last year only for them to leave in less than a year. Conflicting ideas? Management styles? It’s hard to say, but there does seem to be a pattern emerging.