Buddha Air’s ATRs start operation

Buddha Air start flying its newly-purchased two ATR 42/320 aircraft from tomorrow.
Addressing a press meet here today managing director of Buddha Air Birendra Bahadur Basnet said that the airlines with its two-new aircrafts ATR 42/320 that it bought from France will fly to five loss-making sectors like Dhangadi, Nepalgunj, Bhairahawa, Biratnagar and Bhadrapur. “After these 47-seater will start flying, Buddha Air can slash its air fares and fly passengers at lower cost,” he added.
Buddha Air had a total of seven aircrafts — five 1900D Beech aircraft and two 1900C Beech aircraft before it bought the new aircrafts with the help of IFC. IFC, a member of World Bank Group, had provided $10 million loan to the experienced private air operator Buddha Air to strengthen its market leadership in August.
“For the purchase of two ATR 42/320 aircraft from France, Buddha Air submitted an investment proposal to IFC and it approved it after going through it minutely,” he said.
IFC had approved a 10 year term loan of $10 million to part finance this expansion. Buddha Air has been in operation since October 11, 1997.

Himalayan News Service
Kathmandu, September 16

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