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Biman’s self-sabotage will not just hurt itself
May 31, 2024 07:40 am
Biman's sudden U-turn on whether buying two Airbus A350 planes would be profitable or not seems to be driven by factors other than financial viability. In January, after studying the proposal for six months, the airliner concluded that it would be making massive losses—amounting to an accumulated cash shortfall of up to $463.08 million over 25 years—if it bought the planes. Strangely enough, on April 22, a new appraisal committee took over the evaluation and, in only three days, decided that it would be a profitable venture. To come to this conclusion, the second committee seems to have invented all sorts of unrealistic scenarios.
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