Vietnam's newest airline Bamboo takes first flight

Vietnam's newest commercial carrier Bamboo Airways took flight Wednesday, officially entering Southeast Asia's crowded aviation sector where it will face stiff competition from established players.

Air travel in the region has boomed in recent years as appetites -- and budgets -- for travel have soared among spendthrift flyers.

Bamboo is hoping to tap into the saturated market by offering routes to lesser-known destinations in Vietnam currently underserved by heavy-hitters like Vietnam Airlines and budget carrier Vietjet.

"Bamboo Airways will become a five-star airline to serve domestic and international passengers," Bamboo owner Trinh Van Quyet said at Hanoi's Noi Bai airport after the inaugural flight landed from Ho Chi Minh City Wednesday morning.

Born poor in northern Vinh Phuc province, Quyet is best known in Vietnam for building a vast real estate empire FLC Group, which has built luxury hotels, golf courses and condominiums across the country and is the parent company of ...