Yeti Airlines going public company, issue IPO soon
KATHMANDU, Sep 25:Yeti Airlines, a private sector airlines, will be converted into a public company. The announcement was made at an event organized by the airlines on Monday to commemorate the operations's 25th anniversary of operations.
Yeti Airlines was honored by the Civil Aviation Authority of Nepal (CAAN) on the occasion of its 25th anniversary. On this occasion, the president of the airlines, Lhakpa Sonam Sherpa, stated that the airline will soon issue an Initial Public Offering (IPO) to the general public.
The CAAN's Director General, Pradeep Adhikari, believes that this will encourage the airlines to move forward, noting that they have rewarded these airlines for their contributions to the aviation sector for the past two and a half decades. Yeti Airlines started flying from the year September 21, 1998 through TwinOtter plane. This company is currently providing flight services in urban areas through ATR aircraft and in remote areas through its sister company Tara Air.
Sherpa, the chairman of Yeti Airlines, stated that he has been flying in the service of the people despite numerous ups and downs, and that he is now forming a public company to make the people owners of the airlines as well.
Yeti Airlines CEO Anoj Rimal stated that the airline is always prepared for aviation safety and will always cooperate with the CAAN.