The private airline company was also recognized as the biggest taxpayer in Nepal’s tourism sector in 2012, paying some Rs 200 million. It has posted continuous profits for the last 11 years after breaking even in its first five years. [break]
Now the company is planning to diversify its businesses to other tourism areas as well launching international flights.
Among the key persons in the company, Birendra Bahadur Basnet, Managing Director of Buddha Air, is the principal factor behind the success of the airline. At a time when unfriendly business environment is often blamed for doing business in the country, the company may be among some exceptions in Nepal, having reached the pinnacle of success.
Basnet, however, says it is not that much difficult to arrive at this level: One must simply go by the books and by maintaining transparency, he says.
“Transparency and corporate culture are the bases of success. Our employees are given priority in the company, and the joint efforts of all of them are the key behind this success,” added Basnet.
There are 705 personnel in the company at present.
“We’ve reached a level where it’s not necessary to expand our services in our present areas in the near future. Therefore, we’re thinking of diversifying our interests to other core tourism areas, including promoting international flights,” added Basnet.
He also revealed that the company is carrying out feasibility studies for different sectors – from hotels to adventure tourism promotion, from travel and tours to international flights – for diversifying the businesses.
“We have a proven track record even to draw foreign direct investment (FDI) of billions of Rupees for the company,” said Basnet.
The business graduate from Kathmandu University recollects his pioneering days being quite difficult when running a private airlines company was not easily accepted by his family and colleagues.
During Buddha Air’s 16-year history, the crash of a Beechcraft on a hill near Kathmandu in September 2011, killing all the 19 passengers onboard while returning from the Everest sightseeing, was the saddest moment for Basnet.
“Following the crash, we reviewed our flight safety mechanisms to meet all the security concerns, and we left no stones unturned regarding safety issues. Thus, we found our customers preferring to choose our services,” added Basnet.
Buddha Air is one of the three domestic aviation companies in Nepal having international Air Operation Certification (AOC) obtained from the International Civil Aviation Organization (ICAO). An ICAO team is visiting Nepal this month for the safety audits of Buddha Air which includes all of 950 audits.
Meanwhile, Buddha Air has also constructed its own sophisticated hanger at the Tribhuvan International Airport (TIA) for the regular safety and security maintenance of its airplanes.
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