Yeti Airlines purchases two ATR-72-500 planes at a cost of 2 billion

KATHMANDU, Jan 17:Yeti Airlines purchased two airplanes at the same time for a total cost of approximately two billion. The ATR 72-500 plane was purchased from Nova Air in Bangladesh.

Sudarshan Bartaula, Chief Security Officer / Spokesperson stated that the plane had been purchased and would be in Kathmandu within a week.

He stated that Yeti Airlines has introduced a new plan to aggressively develop the market, which includes a cooperation with Asian Life Insurance. After 25 years of company operations, Yeti Airlines brought in Asian Life Insurance as an investor just a few months ago.

A plane costs up to one billion rupees, including VAT. According to the company, the cost of one ship that is currently being delivered ranges between $7 and $8 million.

With this, Yeti Airlines' plane fleet will reach seven. Yeti Airlines plans to bring in three plane next year and fly through ten plane by 2025.

Yeti Airlines holds the second largest market share in the domestic aviation market. Yeti Airlines, a domestic aviation company, began operations on September 21, 1998. The Yeti Airlines launched its inaugural flight from the 9N AEV. Yeti Airiines now operates domestic flights with five ATR 72 aircraft.

Tara Air, Yeti Airlines' sister company, provides flight service to the STOL route.  Yeti Airlines has been offering service in convenient locations. Yeti Airlines currently operates flights to Pokhara, Biratnagar, Bhadrapur, Janakpur, Bhairahawa, and Simara, as well as mountain flights.

Yeti Airlines started preparations to issue primary shares (IPO) in 2024. Yeti Holdings now holds a 51 percent ownership, while Asian Life Insurance owns 49 percent.