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Buddha Air Achieves Strong Revenue Growth

March 19, 2024
Buddha Air

Buddha Air, a leading private airline in Nepal, announced a revenue of Rs 3.83 billion for the first six months of the 2023/24 fiscal year. This strong performance contributed to the company’s significant growth, with its market share expanding to 67% (up from 56% in the previous fiscal year).

The airline’s success is underscored by its consistent revenue increases: Rs 12.16 billion (FY 2022/23), Rs 10 billion (FY 2021/22), Rs 3.33 billion (FY 2020/21), and Rs 4.94 billion (FY 2019/20).

Buddha Air’s financial strength is further affirmed by a Rs 1.6 billion bank loan and a favorable credit rating from ICRA Nepal. The airline received a [ICRANP] LA- rating for long-term loans and [ICRANP] A2+ for short-term loans.

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