Biman Bangladesh Airlines has acquired ownership of two Boeing 777-300ER aircraft, completing the payment of a loan obtained in 2011 in regular installments.
Shafiul Azim, the managing director and CEO of the national flag carrier, disclosed that Biman had settled a total of USD 343.90 million (approximately Tk 3,782 crore) to JP Morgan, covering both the loan principal and interest over the past 23 years.
In addition to this achievement, Biman purchased a Dash-8Q 400 aircraft in October of the previous year for USD 3.99 million (approximately Tk 44 crore), which had initially been leased from Nordic Aviation Capital.
With these acquisitions, Biman now possesses 19 out of its 21 aircraft fleet, with the remaining two being on lease until 2026, according to Azim.
Biman’s fleet, now one of the youngest in Asia, comprises 21 modern aircraft, including four Boeing 777-300ER, four Boeing 787-8, two Boeing 787-9, six Boeing 737-800, and five De Havilland Canada Dash 8.
After transitioning into a public limited company in 2008, Biman agreed with Boeing to acquire four 777-300ER, four 787-8, and two 737-800.
The first two Boeing 777-300ER aircraft were integrated into Biman’s fleet in October and November 2011. Despite challenges such as the COVID-19 pandemic, Biman successfully made all installment payments to JP Morgan, demonstrating its financial resilience.
Shafiul Azim emphasized that Biman achieved this milestone without relying on government funds or external assistance, solely using its income to fulfill its financial obligations.
The ownership of these two aircraft is expected to positively impact Biman, influencing factors such as its profit margins, as stated by the managing director. Efforts are underway to register all three newly acquired aircraft under Biman’s name.
