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GMG Airlines to soar again
A rejuvenated GMG Airlines, the leading private sector airline of the country, is set to soar again after a cash injection from the renowned Beximco Group.
Beximco Group has bought a 50 per cent stake in GMG Airlines and is injecting enough cash into Bangladesh's biggest private passenger carrier to buy two big planes, the company announced recently. Beximco paid Tk 30 crore to buy the stake in the ailing airline and will also lend another Tk 40 crore to help GMG through its financial crisis.
'We feel that GMG has a huge potential with its licenses to operate on many lucrative routes that the foreign airlines are now exploiting,' said Salman F Rahman, the Beximco Group vice chairman, announcing the deal. 'So much of our foreign currency is flying out of Bangladesh because our failure to fly these routes,' Salman Rahman told a news agency.
GMG needed Tk 70 crore to weather the crisis caused by the high oil prices and the global meltdown.
'GMG's current owners will dilute down to 50 per cent and issue new shares worth Tk 30 crore in favour of Beximco, which will make up the rest 50 per cent,' Rahman said of the new deal. Beximco Holdings will lend the rest Tk 40 crore to GMG to ease the airline's financial pressure.
Rahman said GMG would buy two wide-bodied Boeing B767s to boost its current six-plane fleet.
Two of its existing six planes were now grounded, but would be brought back to operation with the Beximco cash.
The airline was established in 1997 and started operations on April 6, 1998. It was earlier wholly owned by the industrial conglomerate GMG Group. It began with domestic operations and launched international services on September 8, 2004, with a service from Chittagong to Kolkata. GMG began regular flights to Bangkok, Delhi, and Kathmandu on October 20, 2006. It started services to Kuala Lumpur on January 24, 2007. The airline started its operation to the Middle East with daily flights to Dubai on February 1, 2008.
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CZ begins flight from Dhaka
Holiday Report
Dhaka was connected directly with a new destination Guangzhou (Canton), China by one of the largest airlines in the world "China Southern Airlines (CZ)" on August 3. The inaugural flight CZ-392 departed from Zia International Airport at 0300 hours for Guangzhou.
Initially China Southern Airlines will operate Dhaka-Guangzhou-Dhaka flight once a week with B737-800 aircraft Boeing. Its seat capacity is 170 - 8 in business class and 162 in economy class. The airline has a plan to increase frequency of flights soon to provide convenience to its passengers.
A colourful ceremony was organized at Zia International Airport for the inaugural flight. First Secretary of People Republic of Chinese Embassy at Bangladesh Yin Yi Fan, representatives of Civil Aviation Authority of Bangladesh and officials of NovoAir Limited, the GSA of the Airline were present on the occasion.
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Galaxy signs MoU with Malaysia's largest flying academy
Holiday Report
Galaxy Flying Academy signed a Memorandum of Understanding (MoU) at its Head Office in the city with KL International Flying Academy, the largest flying academy of Malaysia. The MOU calls for the exchange of student, pilots, flying instructor, mutual aircraft maintenance support, lease of aircraft and other mutual support.
Masudur Rahman, Managing Director, Galaxy Flying Academy and Capt. Ismail Bakar, CEO of KL International Flying Academy Sdn. Bhd, KL, Malaysia signed on behalf of their respective sides.
Md. Atiqullah, Chairman, Director and other officials of the Galaxy Flying Academy were present during the signing ceremony at the Head Office of Galaxy Flying Academy.
Earlier, Capt. Ismail Bakar, CEO and Syed Abd. Rahman Syed Hamid, Director Finance flew from Kuala Lumpur to Dhaka to sign the MoU with the Galaxy Flying Academy. In a brief speech on the occasion, Bangladeshi-Canadian Masudur Rahman, said that it was his dream to establish a world class residential flying academy in Bangladesh. He has been living in Canada for last 30 years, and now strongly believes that this is the time to pay back to motherland. He also expressed his deep gratitude to the Civil Aviation Authority of Bangladesh and Malaysia for extending all the help and support to him. The motto of flying academy is "Be a Pilot with us."
Galaxy Flying Academy has taken all preparations to conduct ground classes at its head office in Uttara. Masudur Rahman has already booked five trainer aircraft for shipment from the USA. The academy has finalised to construct an aircraft hanger at Rajshahi Airport to conduct flying training from there. Galaxy has also arranged a hostel for about 30 student pilots and instructors to accommodate them during flying training in Rajshahi.
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