Country's first private airline GMG is now faced with a huge financial crisis as it owes 459.3 million taka to the Civil Aviation Authority of Bangladesh (CAAB) and 180 million taka in travel tax to National Board of Revenue (NBR).
Under the circumstances, the airline is taking some cost-cutting measures and planning to cut down its operation and lay off a significant number of workers soon. It already closed some of its domestic and international routes, including the Dhaka Jeddah route since December 16 last year.
The GMG authority has already decided internally to suspend operation on most of the long-haul routes where Boeing 767-300 Extended Range planes were flying. The airline is now flying on there international routes instead of previous sis. Fearing loss of jobs, some of the employees have already switched to other airlines. Now it has 1,000 employees compared to 1,150 before.
This company has eight planes, three Boeing 767s, three McDonnell Douglas MD-80s and two Bombardier Dash-8s. One MD-80 and one Dash-8 have been stranded for a long time. GMG Airline started its journey in 1998 and Beximco Group bought the lion's share of it in 2009.
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