Comments on Biman
Niraj Agarwalla, Randolph MA
In his letter ("Biman PLC - some suggestions," July 27), Mr. Qamruddin makes some excellent suggestions on making Biman Bangladesh a viable airline. But it is all for naught unless Biman is, first, put on a sound financial footing. Unfortunately, turning Biman into a PLC will not help. Biman has a huge debt and is in arrears with many creditors: for example, it owes the Bangladesh Petroleum Corporation (BPC) for overdue fuel bills. On top of that, Biman will need a multi-million dollar capital infusion to implement Mr. Qamruddin's suggestions, especially the purchase of new aircraft, which Biman desperately needs. Where is this money going to come from? What the government needs to do about Biman is to sell a controlling interest (51%), or just give it away, assuming the new owners will pay down the debt. Once the debt is cleared off the books, the airline will need to be right-sized, which means laying off thousands of workers Biman has accumulated over the years. If the government can shutter jute mills and lay off thousands of workers without blinking an eye, why not Biman? In addition, new owners must instill a new corporate culture in Biman that will turn it into a world-class airline. Coupled with new aircraft, a new vision, Biman will be looked at with awe, not derision as it is now.
|
|
