Bangladesh national airline seeks strategic partner


DHAKA (XFNews-ASIA) - National carrier Biman Bangladesh Airlines is looking for a strategic partner to revive its financial fortunes, a minister said. "We are seriously looking for strategic partners so that we can share

management and aircraft with a reputed airline to make Biman a

profitable corporation," junior civil aviation minister Mirza Fakhrul

Islam Alamgir told Agence France-Presse.

"We've seen Sri Lanka airlines are doing fine following its partnership with Emirates. We think we can also have a strategic partner like Sri Lankan because we have a very good market," Alamgir said.

SriLankan airlines is partly owned and fully managed by Dubai-based Emirates Airlines.

State-run Biman incurred a loss of around 41 mln usd last year as fuel costs soared and two accidents that saw a DC-10 and Fokker F-28 written off.

Biman currently has five DC-10 aircraft aged 20 years or older, four Airbus 310s bought in the early 1990s, and three Fokker F-28 aircraft that are mostly used for domestic and regional flights.

The minister said the carrier will soon procure two aircraft on lease and phase out all five DC-10s before September 2007.

Last October Biman's board approved a sale of a 61 pct stake in the company to private investors in an effort to raise money to buy new aircraft for its ageing fleet. 

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More