Himalayan Airlines set for take-off
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Tibet Airlines has signed a deal with two Nepalese companies to set up a new international airline, in what is set to become the largest foreign investment ever in Nepal’s aviation sector.
The Chinese air operator will partner Nepal’s Himalaya Infrastructure Fund (HIF) Aviation Investment Company and Yeti World Investment Company, to establish Himalayan Airlines, formerly known as Yeti Air International.
Tibet Airlines will take a 49% share in the company with an initial investment of US$25 million, possibly rising to US$1.5 billion within the next five years, while the Nepalese entities share the controlling stake. Tibet Airlines will be responsible for providing all technical, managerial and marketing support to the new airlines.
On current timetables, Himalayan Airlines’ is set to commence on Kathmandu-Lhasa route 28 October, adding Chengdu to the network at a later date. The new carrier will begin service with a fleet of three Airbus A320 aircraft, with a view to acquiring two further aircraft in the second year of operations, and growing the fleet to 15 over five years.
Himalayan Airlines has a permit to fly to 14 international destinations around the world.
Comments are closed.