Buddha Air earned 12.16 billion rupees in fiscal year 2022/23

KATHMANDU, March 20:Buddha Air's business is constantly expanding, with a 62 percent market share in domestic flights.

Buddha Air earned 12.16 billion rupees in fiscal year 2022/23, according to ICRA Nepal's rating report.

Buddha Air has earned 30 billion 500 million rupees over the last four fiscal years. Buddha Air earned 4.94 billion in the fiscal year 2019/20, 3.33 billion in 2020/21, 10 .9 billion in 2021/22, and 12.16 billion in 2022/23.

Buddha Air earned 3.83 billion in the first six months of fiscal year 2023/24. Buddha Air's income, which has been steadily expanding, fell in the fiscal year 2020/21 due to Corona.

In addition, Buddha Air got a bank loan of Rs 1.6 billion, which has been rated by ICRA Nepal. The grade reaffirms the airline's creditworthiness, with long-term loans of $25.5 million and short-term loans of A2+.

In 2023, Buddha Air's market share increased to more than two-thirds. According to the data of the Tribhuvan International Airport office, Buddha Air  has served 25 lakh 77 thousand 618 passengers.

Buddha Air currently operates 14 ATR 72 aircraft and three ATR 42 aircraft.  Planning to add 2 more aircrafts.