Biman To Expand Fleet and Network En Route Back to Profits
AIN AIR TRANSPORT PERSPECTIVE » OCTOBER 7, 2013 by NEELAM MATHEWS The Bangladeshi government has tasked Biman Bangladesh Airlines CEO Kevin Steele with returning the carrier to profitability and preparing it for an initial public offering in 2014 or 2015. October 7, 2013, 3:05 PM Biman Bangladesh Airlines, which has operated at a loss since 2008, expects to break even in the current 2013/14 financial year and to return to profitability the following year after cutting its losses from $75 million in 2010/11 to $25 million in 2011/12. At a press briefing in New Delhi last week, the Asian carrier’s CEO , Kevin Steele, announced plans to rationalize and double the size of its fleet from eight to 16 aircraft to allow it to expand its route network with new services such as Dhaka-New York starting next April. The Bangladeshi flag carrier has issued a request for proposal to wet-lease a pair of Boeing 777s to add to the...