Biman Bangladesh Airlines has changed its decision of selling out two aircraft as the government has granted sovereign guarantee to the national flag carrier for pre-delivery payment of two Boeing-737-800 aircraft. Biman officials said that two Boeing-737-800 aircraft will be added to Biman’s fleet in mid-2015. For this, Biman has to pay around USD 53.5 million as the pre-delivery payment before December 1 this year. But Biman does not have the funds.
Consequently, Biman authorities had decided to sell out two of their aircraft and take lease of two aircraft for operating flights. But Biman has recently got the sovereign guarantee from the government, and so it has decided not to sell the two aircraft.
Biman managing director Kevin Steele told New Age that Biman had to take the decision of selling two aircraft due to cash crisis and for this it had floated
international tender. At present, Biman officials are scrutinising the tender offers.
But the government has recently assured Biman of giving the airlines sovereign guarantee. Meanwhile, Biman floated request for proposal for USD 53.5 million loans to purchase the two aircraft.
Biman officials said that Biman MD Kevin had sent a letter to the civil aviation and tourism secretary seeking Tk 800 crore on September 19.
The letter said that Biman has new aircraft, properties and machineries but does not have the cash. It also said that if the government cannot give the money, Biman would sell its two existing Boeing-777-300 aircraft and take lease of fuel-efficient aircraft for operating flights.
Earlier, Biman signed a contract with US aircraft manufacturer, the Boeing Company, to purchase eight aircraft at a cost of Tk 8,728 crore in 2008. Of them, four aircraft are of Boeing-777-300ER model and remaining four Boeing-787-8 model.
Apart from procuring the eight Boeings, Biman later ordered for another two Boeing-737-800 aircraft. Biman took a syndicate loan at 4.57 per cent interest from nine local banks. Biman signed initial contract with the Boeing on March 15, 2011. On April 22, 2011, Biman finalised the contract with the Boeing to procure a total of 10 aircraft.
In accordance with the contract, the first two Boeing-777-300ER aircraft had already been added to Biman’s fleet in October and November, 2011.
According to the delivery order, the rest two Boeing-777-300ER aircraft were scheduled to be added to Biman fleet in next February or March.
Biman Bangladesh Airlines incurred losses of Tk 200 crore in the last fiscal year 2012-13, but made improvement from the FY 2011-12 when it sustained losses of Tk 600 crore. But it anticipates Tk 80 crore loss in the FY 2013-14.
-With New Age input
