Biman reports record Tk937cr profit in FY25

 Biman Bangladesh Airlines today announced an unaudited profit of Tk937 crore for the fiscal year 2024-25, marking the highest profit in its 55-year history.  

The national flag carrier attributed the growth to efficient resource management, strategic decision-making, and continuous improvements in customer service, according to a press release.

The previous profit record of Tk440 crore was set in the 2021-22 fiscal year. 

In 2024-25, the airline generated revenue of Tk11,631.37 crore, carried 3.4 million passengers, transported 43,918 tonnes of cargo, and raised its cabin factor to 82%, a significant improvement over the previous year, read the release.

The airline also recorded its highest-ever ticket sales in January 2025.

Under the interim government, Biman's new management has played a major role in this year's record profits through efficient economic control, effective resource allocation, and rapid decision-making, read the release.

The airline highlighted its in-house fleet maintenance, covering line maintenance to major inspections, as a key factor in reducing operational costs. 

Biman currently operates a fleet of 19 aircraft, including four Boeing 787-8s and two Boeing 787-9 Dreamliners, described as state-of-the-art and fuel-efficient.

However, the airline's record profit comes amid significant outstanding dues. 

Padma Oil, a subsidiary of Bangladesh Petroleum Corporation (BPC), who is the country's sole supplier of jet fuel, claimed Biman owes Padma Oil nearly Tk1,700 crore. 

"Last fiscal year, they paid us Tk20–25 crore per month as installments, apart from previous outstanding dues. But how they show a profit while leaving the dues unpaid is something we do not understand," a Padma Oil source told The Business Standard.

The source also said an inter-ministerial meeting was held regarding the dues.

Moreover, Biman owes the Civil Aviation Authority of Bangladesh (Caab) around Tk6,300 crore, including over Tk900 crore in principal and Tk5,400 crore in surcharge, VAT, and income tax, according to Caab sources.

In response, Biman spokesperson ABM Roushan Kabir said, "The profit reported by Biman is for FY25. After deducting expenses from total revenue, the company records a profit. Profit does not imply the absence of liabilities. Assets and liabilities coexist, and as long as revenue exceeds expenses and liabilities are settled on time, the company is considered profitable."

"However, the amounts claimed by Padma Oil or Civil Aviation do not fully align with Biman's records. The airline makes payments accordingly. Some disputes over certain claims remain unresolved," he added.

Since its establishment in 1972, Biman has posted profits in 26 out of 55 years. Following its transformation into a public limited company in 2007, the airline's cumulative profit over the past 18 years has reached Tk5.89 billion, demonstrating long-term stability and growth.