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Third Boeing Joins Fleet

Biman hopes to serve better

SHARIFUL ISLAM
With an Airbus grounded and a DC-10 most likely heading for a museum, the ailing national flag carrier Biman yesterday received delivery of an extended range Boeing 777-300.
However, Biman Bangladesh Airlines bought the aircraft, christened Akash Prodip, from the US maker with about $ 178 million loans from international banks which show lenders have the confidence that Biman would bounce back.
Akash Prodip is scheduled to land in Dhaka around noon today from the Seattle headquarters of Boeing. Biman officials expect the aircraft would go a long way in helping Biman improve services and better maintain flight schedule.
The 777, the third of its kind in Biman's fleet, was purchased under a 10-plane deal with Boeing signed during the last caretaker government's tenure.
Biman was delivered two Boeing 777-300ERs, named Palki and Arun Alo, in October and November of 2011.
The fourth Boeing 777-300ER, already named Ranga Probhat, is expected to arrive in the third week of March. A Biman official told The Daily Star yesterday wishing anonymity, "The wide-body aircraft will bring much relief to us as we have been struggling to maintain schedule after an Airbus had been grounded since January 25 due to a structural crack."
The crack discovered in the now-out-of-production Airbus A310-300 led Biman to cancel some of its scheduled flights and seek help from local airlines to fly in its stranded passengers.
Biman only has seven aircraft, including the grounded Airbus and the lone DC-10-30, the last passenger carrying aircraft of its kind which would retire on February 20.
At Shahjalal International Airport on February 11, Prime Minister Sheikh
Hasina will attend a programme arranged for celebrating the 777 joining the Biman fleet and the last passenger carrying McDonnell Douglas DC-10-30 retiring from commercial service and possibly heading for a museum in the US.
Biman received the 777 hardly two weeks after the government approved $356 million hard-term loans to help the loss-making airlines buy the two new 777s.
Of the total loan, $290 million will be guaranteed by US-based Ex-Im Bank while the remaining $66 million would be from Standard Chartered Bank, officials of the finance ministry and Biman said.
The interest on the Ex-Im Bank's loan would be three months' London
Interbank Offered Rate (LIBOR), an average interest rate estimated by leading banks in London, plus 0.35 percent. The loan would have to be repaid in 12 years, officials said.
The loan from Standard Chartered Bank would carry interest at three months' LIBOR plus 5.5 percent and would have to be repaid in five years, officials said, adding that other service charges would have to be paid by Biman.
"Earlier, we had received similar long-term loans to purchase the two Boeing 777s now in service," a Biman director toldThe Daily Staryesterday.
Biman had sought around Tk 1,600 crore from the government. However, the finance ministry agreed to provide Tk 500 crore initially.