AVIATION
Why is Yeti Airlines buying ATR aircraft from NovoAir?
NovoAir had previously announced the sale of three ATR planes, and later, two more were added, making a total of five ATR planes in the sales lineup.
After the aviation crash of Yeti Airlines ATR 72-500 that occurred in Pokhara a year ago, the business affected by the downturn is regaining momentum as two aircraft flying in Bangladesh have been purchased by Yeti Airlines. Currently, Yeti Air has initiated the process of purchasing two Airbus ATR 72 series planes from the Bangladeshi airline NovoAir Limited.
Yeti Airlines has brokered a deal with the UK-based AirStream International to purchase two planes. According to sources, Yeti Airlines has acquired two ATR 72-500 series aircraft, the same one it currently operates from NovoAir. One of the planes is expected to arrive within a week, while the other is scheduled to reach Nepal within a month.
Buddha Air another leading ATR operator in Nepal had been purchasing its newer fleets from a bankrupted airlines Jet Airways in India. Buddha Air has not made any purchase of ATR 72 aircraft with NovoAir.
NovoAir had previously announced the sale of three ATR planes, and later, two more were added, making a total of five ATR planes in the sales lineup. The announcement of the sale of ATR planes with Manufacturer Serial Number (MSN) 636, 687, 597, 805, and 816 was made in November 2023.
NovoAir commenced its flights in the Bangladeshi airspace in 2013 and has since purchased a total of seven ATR planes, including ATR 72 500 and 600 series, all through AirStream.
Sudarshan Bartaula, spokesperson for Yeti Airlines, revealed that the current aircraft being brought into the country was purchased from Novoair in Bangladesh. He stated, “The aircraft that has arrived is on lease. They have been sent to international flights due to increased demand for domestic flights.”
Bartaula further mentioned, “We plan to operate a total of ten ATR 72 aircraft in the coming days. The aircraft that has arrived is on lease from Bangladesh-based Novoair. The other ATR is expected to arrive soon, making a total of seven aircraft with Yeti Airlines.”
He clarified that the company is not currently able to operate flights according to demand. Therefore, the airline is focusing on operating flights to destinations where they already have a presence. Yeti Airlines is in the process of preparing for an initial public offering (IPO) within this fiscal year, with Yeti Holdings holding a 51% share and Asian Life Insurance holding 49%.
The airline is also conducting a study for potential flights to destinations such as Surkhet and Dhangadhi after adding three more aircraft within the economic year. Yeti Airlines is cautious about safety and is emphasizing careful operations to avoid unforeseen accidents, even as it continues to enhance passenger services.
Regarding Tara Air, a subsidiary of the Yeti Group, Bartaula informed that Tara Air currently operates three aircraft and has no immediate plans to add more to its fleet. He argued that the government has not provided any special facilities for flights to remote areas, and adding more aircraft in such conditions is not feasible. Bartaula highlighted the high cost of training pilots for flights in remote areas and suggested that the government should consider tax exemptions for such operations.
Development of roads, highway and express bridges affects domestic air transportation in Bangladesh
The recent development resulted the operation of large bridges, highways, and railway connectivity in Bangladesh, leading to a decrease in domestic air travel business.
In addition to domestic flight services, NovoAir has been in the process of acquiring three Airbus A321 planes for operating international flights. The company’s Managing Director, Mofizur Rahman, recently provided information in an online interview. The airline, which has been in operation for 11 years, operates seven planes, including flights to Kolkata, India, in addition to seven domestic routes in Bangladesh.
To cover long-distance flights, the company plans to use two A321 planes, which are expected to be delivered shortly. Along with the delivery of the planes, the airline aims to commence international flight services by the first quarter of 2024. The chairman announced that the third A321 plane would be delivered by the end of 2024. NovoAir has plans to operate flights to Bangkok, Kuala Lumpur in Malaysia, and Singapore.