Jubilee777
Topic Author
Posts: 502
Joined: Thu May 20, 1999 10:34 pm

Biman Up For Grabs.

Mon Dec 04, 2000 6:38 pm

Four airlines in race for share in Bangladesh airline.

DHAKA -- At least four Asia-Pacific and Middle Eastern airlines are in the race to buy 40 per cent of Bangladesh's national airline Biman Bangladesh Airlines, airline officials said on Monday.

The officials said Singapore Airlines, Air New Zealand, Qatar Airways and Gulf Air have submitted proposals to become strategic partners in the airline, which is currently fully government-owned.

Some reports here said there could be several more interested airlines but no confirmation was available.

Last month Biman called for proposals from foreign airlines to become strategic partners.

'The last date for sending proposals to become a strategic partner was December 2 and we have four confirmed groups,' a Biman official said.

The government expects to earn US$40 million from the sale of shares.

Under the government's partial privatisation plan, it will retain 51 per cent of the airline's shares and nine percent will be sold to Biman employees.

The plan envisaged the sale process would be completed by January but Biman sources said it could take a little longer.

The plan was prepared by Citibank NA, which valued Biman's assets at US$100 million, although a Biman source said the airline believed its value was almost double this amount.

The sale process has been delayed by opposition from unions but after several rounds of talks and promises of no lay-offs, the protests have eased.

Losses at the airline were being gradually reduced from 200 million taka (US$3.48 million) recorded in the 1998-1999 fiscal year, officials said.

Biman has 5,500 employees and 14 aircraft and flies to 25 international destinations as well as domestic routes. -- AFP

http://straitstimes.asia1.com.sg

Singapore Airlines on the prowl again.....

J777
 
User avatar
VirginFlyer
Posts: 4221
Joined: Sun Sep 10, 2000 12:27 pm

RE: Biman Up For Grabs.

Mon Dec 04, 2000 6:51 pm

Air New Zealand????
"So powerful is the light of unity that it can illuminate the whole earth." - Bahá'u'lláh
 
TurbineBeaver
Posts: 1511
Joined: Fri Jan 11, 2002 1:50 am

RE: Biman Up For Grabs.

Tue Dec 05, 2000 3:03 am

I live in Dhaka and am currently writing a 30 page research paper/report on Biman for my 12th grade history class.

TB

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos