Biman finalises deal with Boeing

The Biman Bangladesh Airlines on Thursday finalised a deal with the Boeing Company for purchasing two brand new Dreamliners at a discounted price.

The current market price of Boeing 787-9, having 298 seats, is around $300 million.

The two ready Dreamliner 787-9 planes will join the Biman's fleet by the second week of December. 

Md Mokabbir Hossain, managing director and chief executive officer of Biman, confirmed it. 

The inclusion of two 787 aircraft will take the total number of planes in the fleet to 18.

Biman will get around 55 percent discount on the purchase of the two aircraft as a Chinese airline company which ordered those failed to take the delivery due to financial crisis. 

The fourth largest air transport company of China Hainan Airlines had ordered the two Dreamliner 787-9 planes at Boeing, but could not continue the payment due to financial crisis since last year.

The business of China's once high-flying conglomerate has been shrinking after the government scrutinised their debt-fuelled expansions and temporarily seized their business. 

The US-China trade war deepened the company's financial crisis and caused it to default on debt payment.

The Hainan Airlines Group, also known as the HNA, was one of China's most lucrative companies until it began facing liquidity challenges and pressure from the government.

The conglomerate has decided to sell assets worth more than $20 billion, ranging from properties to big shareholdings since 2018. The Chinese group is selling real estate and shares worldwide.

The Boeing Company, which also has been going through a crisis since its planes of 737 MAX series were grounded worldwide, offered Biman Bangladesh Airlines to purchase the two aircraft to avert some losses.

Biman then started negotiation and finalised the price at a discounted rate. 

The board of the national carrier approved the decision to purchase the two aircraft at a meeting last week.