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Published On: March 19, 2024 07:05 PM NPT By: Republica

Buddha Air collects Rs 3.83 billion in revenue in 6 months, market share reaches 67 percent

Buddha Air collects Rs 3.83 billion in revenue in 6 months, market share reaches 67 percent

KATHMANDU, March 19: Buddha Air has collected Rs 3.83 billion in revenue in the first six months of fiscal year 2023/24. Buddha, a private sector airline, has been providing air services on trunk routes and has been flying from Kathmandu to Varanasi in India. The market share of Buhdha Air, which has recently been expanding by adding aircraft, has reached 67 percent. In the fiscal year 2022/23 it was 56 percent.

In the fiscal year 2022/23, Buddha Air recorded a total revenue of Rs 12.16 billion. Similarly, the company reported turnovers of Rs 10 billion in 2021/22, Rs 3.33 billion in 2020/21, and Rs 4.94 billion in 2019/20.

Furthermore, Buddha Air has secured a bank loan worth Rs 1.6 billion, for which it has been rated by ICRA Nepal. The rating reaffirms the airline's creditworthiness, with long-term loans of 25.5 million US dollars being rated [ICRANP] LA- and short-term loans rated [ICRANP] A2+.

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