National, Back Page

Biman eyes US$ 1bn annual revenue

Published : 04 Aug 2022 09:33 PM

Biman Bangladesh Airlines is looking forward to be a USD one billion turnover company. At present its annual turnover is USD 700 million.

With over 80 lakh expatriates and Biman expanding its wings to newer destinations across the world, the ambition to be a billion dollar turn over company will not be so hard, says aviation experts.

Biman has all the preparations to operate flights on Dhaka - New York route. At the same time it will fly to China and other international destinations soon which will help to increase its revenue collection. 

Meanwhile, Biman inaugurated its first ever direct flight to Canada just last month, a long cherished desired destination which will add a substantial amount of revenue for the airliner. In the meantime, aviation experts also said that if all the expatriate workers (around 10 million) used Biman as their travel carrier permanently, Biman could fetch over 2 to 3 billion dollars annually from its revenue.

Biman’s new managing director and CEO Zahid Hossain made this assessment at his first press briefing after taking charge of the position.      He said, “Currently, Biman's annual turnover is more than USD 700 million. We want to transform Biman into an organization with an annual turnover of USD one billion. To do this we have to grow the business, make decisions with business thinking.” 

Citing Biman has all preparation to fly to New York, he said, “We are now waiting to attain the status of category one rating. We have learned that Bangladesh Embassy in Washington has sent some suggestions to the Civil aviation Authority of Bangladesh (CAAB). CAAB is working on these issues. Soon there will be some development.” 

“At the same time we are ready to fly to China but we are yet to have any official statement to operate flights on Dhaka Guangzhou flight. Like others we have learned from a Facebook page that China has given approval to Biman to fly there. We have all sorts of preparations, we will operate as much slot as China gives us,” he added. 

Despite the ongoing pandemic, Biman is in profitable position and following that Biman’s earnings this year is expected to be higher, Hossain expressed. 

However, for this he has emphasized on good business planning and increase the standard of customer services. 

About the domestic fare, the Biman CEO said, “No one can dictate Biman to fix its fare on domestic routes. As a member of International Air Transport Association (IATA), we are committed to giving better services and competitive fare to attract passengers. No other organizations can raise question against this.”

Biman operates a total of 14 destinations across the globe while it operates eight destinations in the country.