Biman flies high with record profit in FY25

Biman Bangladesh Airlines Limited yesterday announced a record unaudited profit of Tk 937 crore for the fiscal year (FY) 2024-25.

The national flag carrier credited efficient resource management, strategic planning and improvements in passenger services for the achievement, the highest in its 55-year history.

"Launched in 1972 with a revenue of only Tk 1.90 crore, Biman gradually transformed into today's modern and competitive airline from the limited infrastructure and resources of war-ravaged Bangladesh," said ABM Raoshan Kabir, general manager of public relations at Biman.

The profit announcement came amid recent technical problems with aircraft that raised concerns over Biman's maintenance and safety standards. Besides, aviation specialists have also questioned the scale of Biman's dues and liabilities.

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The carrier owes Tk 8,127 crore to the Bangladesh Petroleum Corporation (BPC) and the Civil Aviation Authority of Bangladesh (CAAB), according to official estimates.

CAAB alone claims Tk 6,327 crore, of which Tk 919 crore is the original debt. The rest, Tk 5,408 crore, consists of surcharges, value-added tax (VAT) and income tax. Biman also owes around Tk 1,800 crore to BPC for jet fuel.

Biman officials said the airline's previous highest profit was Tk 440 crore in FY 2021-22.

In FY 2024-25, Biman earned Tk 11,631 crore, surpassing the Tk 10,000 crore revenue mark for the second year running.

Since its establishment in 1972, Biman has been profitable in 26 years and loss-making in the rest.

After its transformation into a public limited company in 2007, the airline has accumulated Tk 589 crore in profit over the past 18 years, which it cites as proof of its stability and long-term success.

The current Biman fleet consists of 21 aircraft, 19 of which are owned outright. These include six Boeing 787s, four Boeing 777-300ERs, four Boeing 737s and five Dash-8 Q400s. The airline now flies to 21 international and seven domestic destinations.

Biman said its in-house maintenance capacity, from routine checks to major overhauls, as a key strength that cuts costs, reduces delays and ensures international-standard safety.

In FY 2024-25, the airline carried 34 lakh passengers and nearly 44,000 tonnes of cargo, achieving a cabin factor of 82 percent, an improvement on the previous year.

In January 2025, it recorded the highest ticket sales in its history. Faster baggage delivery, upgraded in-flight services, and modernised airport procedures have also increased passenger satisfaction, the airline said.

Biman credits its new management appointed by the interim government for the record profit, pointing to tighter financial controls, better use of resources and quick decision-making.

Meanwhile, ATM Nazrul Islam, an aviation expert, called for more clarity about the FY25 profit.

"It would have been better if Biman clarified about its liabilities and debt and how much it owed to CAAB and BPC," he said.

However, Raoshan said that such concerns were misplaced.

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"It is clearly mentioned in the balance sheet about the amount of assets and liabilities. For example, if Biman owed to CAAB or BPC, it would be shown in the liability portion," he told The Daily Star.

"Suppose Biman owes Tk 100 crore to any organisation. I pay the organisation on a monthly basis, which is our expenditure. Biman deducted all its expenditure, including those instalments, from its income. The rest of the amount is Biman's net profit," explained the Biman official.

He added that the accounts would be audited and approved at the annual general meeting before the balance sheet is made public. "Then you will be able to know Biman owes to whom and what the amount is," he said.

Raoshan also noted differences between Biman and CAAB over the dues figure.

He said the airline plans to expand routes, strengthen cargo operations and push digital transformation in passenger services.

"With the goal of upholding national pride, Biman aspires to become a leading airline in South Asia by ensuring world-class service, reliability, and the safety and security of its valued passengers," he added.