NovoAir to sell ATR-72 fleet, eyes international expansion | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Saturday
June 14, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SATURDAY, JUNE 14, 2025
NovoAir to sell ATR-72 fleet, eyes international expansion

Aviation

Kamran Siddiqui
22 June, 2024, 03:30 pm
Last modified: 22 June, 2024, 06:55 pm

Related News

  • Aviation giants Airbus, Menzies seek long-time partnership with Bangladesh
  • Airfare sees limited impact of transparency drive, fuel price cut 
  • Airlines GSA Forum of Bangladesh officially launched
  • Private airlines for urgent reform of aviation regulations
  • Canada keen to invest in Bangladesh's aviation sector

NovoAir to sell ATR-72 fleet, eyes international expansion

Kamran Siddiqui
22 June, 2024, 03:30 pm
Last modified: 22 June, 2024, 06:55 pm

NovoAir, a Dhaka-based domestic airline, is selling its entire fleet of five ATR-72 aircraft to focus on acquiring new planes for international routes. 

The airline primarily operates domestically, with one international route to Kolkata, India. In January, they sold two ATR-72s to Yeti Airlines of Nepal, citing a decline in domestic passengers.

"The sale of the old aircraft allows us to invest in new planes specifically suited for international routes. Sale advertisements have been placed for the five ATR aircraft," a NovoAir source told The Business Standard on Thursday.

While the sale is underway, NovoAir confirms continued regular domestic operations with the existing ATRs until the arrival of their new fleet.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Domestic operations will also continue alongside international flights following the addition of new aircraft.

The five ATR72-500s, built between 1999 and 2002, are available for immediate purchase. However, NovoAir anticipates the sale process to take one to two years to complete.

"Advertisements for the two aircraft sold in January were placed in 2021. Because the sale process takes a long time, advertisements have been placed before the new aircraft are leased. This is because even if the aircraft are not in use, their maintenance costs are high," the NovoAir official told TBS.

To facilitate the sale, NovoAir has partnered with Airstream International Group, a UK-based company specialising in aircraft remarketing and leasing, reports global aviation news portal ch-aviation.

"We are delighted to continue our longstanding relationship with NovoAir, having recently assisted them in selling two other ATR72-500s to Yeti Airlines," said Airstream in a press release.

Airstream has a history of working with NovoAir, having previously facilitated the acquisition of their ATRs from Air New Zealand and BQB Líneas Aéreas and the sale of additional aircraft.

The ATR-72, a French-made turboprop aircraft, is widely used for short-haul flights and can accommodate up to 78 passengers. NovoAir currently utilises these aircraft for their domestic routes within the country.

NovoAir currently operates daily flights from Dhaka to Cox's Bazar, Saidpur, Chattogram, Jashore, Sylhet, Rajshahi, and Kolkata.

With plans to expand its international routes, NovoAir is interested in acquiring three Airbus aircraft to service new international destinations such as Bangkok, Kuala Lumpur, and Singapore.

"We are currently experiencing a 30% decrease in domestic passengers. Having seven aircraft is more than we need for our current routes. Therefore, we have made the decision to sell two extra ones," Mofizur Rahman, managing director of NovoAir told TBS earlier in January.

He also noted the company's commitment to international expansion, highlighting ongoing efforts to acquire new aircraft.

The local airline industry is facing challenges due to several factors.  Improved road and rail infrastructure is attracting a growing number of domestic travellers, leading to a decrease in demand for domestic flights.

Additionally, persistent inflation, exceeding 9% since March of this year, along with costlier fuel and higher government duties, has also increased ticket prices, prompting many to cut down on air travel, according to industry insiders.

Furthermore, the opening of the Padma Bridge in June 2022 has significantly reduced demand for flights on routes like Dhaka-Jashore and Dhaka-Barishal.

Bangladesh / Infograph / Top News

Novoair / ATR-72 fleet / #NOVOAIR / aviation

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infograph: TBS
    Lowering targets and missing those: Is splitting NBR enough to break the cycle?
  • Missiles launched from Iran are intercepted as seen from Tel Aviv. REUTERS/Jamal Awad
    Iran fires missiles at Israel in response to attacks; Trump says it's not too late for nuclear deal
  • Logo of National Citizen Party (NCP)
    People won't accept election date before July Charter is implemented: NCP on Yunus-Tarique meeting

MOST VIEWED

  • Wreckage of a Boeing 787 Dreamliner showing part of its registration "VT-ANB" in Ahmedabad, India, June 12, 2025. REUTERS/Amit Dave
    Air India Dreamliner crashes into Ahmedabad college hostel, kills over 290
  • File Photo of Chief Adviser Muhammad Yunus: UNB
    Prof Yunus to receive Harmony Award from King Charles today
  • Energy adviser Fouzul Kabir Khan with other government officials during a visit to Sylhet gas field on 13 June 2025. Photo: TBS
    I would disconnect gas supply to every home in Dhaka if I could: Energy adviser
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    Bangladesh mulls settlements with tycoons over offshore wealth: BB governor tells FT
  • UCB declares no dividend for 2024 to comply with regulatory requirement
    UCB declares no dividend for 2024 to comply with regulatory requirement
  • UK Prime Minister Keir Starmer, Chief Adviser Muhammad Yunus
    Disclosure of unconfirmed Yunus-Starmer meeting shows ‘diplomatic imprudence’: Analysts

Related News

  • Aviation giants Airbus, Menzies seek long-time partnership with Bangladesh
  • Airfare sees limited impact of transparency drive, fuel price cut 
  • Airlines GSA Forum of Bangladesh officially launched
  • Private airlines for urgent reform of aviation regulations
  • Canada keen to invest in Bangladesh's aviation sector

Features

Photos: Collected

Kurtis that make a great office wear

14h | Mode
Among pet birds in the country, lovebirds are the most common, and they are also the most numerous in the haat. Photo: Junayet Rashel

Where feathers meet fortune: How a small pigeon stall became Dhaka’s premiere bird market

2d | Panorama
Illustration: Duniya Jahan/ TBS

Forget Katy Perry, here’s Bangladesh’s Ruthba Yasmin shooting for the moon

3d | Features
File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

4d | Features

More Videos from TBS

No Cash in ATMs: System Glitch or Something Deeper?

No Cash in ATMs: System Glitch or Something Deeper?

8h | TBS Today
Iran-Israel military power; who is ahead?

Iran-Israel military power; who is ahead?

10h | TBS World
Did the possibility of an Iran nuclear deal set back after the attack?

Did the possibility of an Iran nuclear deal set back after the attack?

12h | TBS World
IRGC chief Major General Hossein Salami killed in Israeli strike

IRGC chief Major General Hossein Salami killed in Israeli strike

13h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net