United Airways to issue rights for business expansion
Asaduzzaman Pallab | Monday, 21 March 2011
Asaduzzaman Pallab
United Airways, a private sector air carrier plans to expand by increasing its number of fleet and flight destination. Company sources said, United Airways plans to buy two large size Airbus-300-600 and one mid size MD-831 to meet its excessive flight destination plan in Asia and Europe. To finance its expansion plan, the aviation company, also a listed one has already initiated its effort to raise money by offering right share to their investors. With 100 per cent premium on the face value of Tk 10 the company has sought right share permission to the Securities and Exchange Commission (SEC) to finance its future ambition. Apart from the domestic flight currently United Airways operates flights in London, Dubai, Kuala Lampur, Kathmandu, Kolkata and Bangkok. When contacted the company secretary of the United Airways ATM Nazrul Islam told FE that as part of the financing the plan, the company has offered right share with premium to investors. "We will use our aircraft mainly to operate more flights in London and to commence our operation in Sri Lanka and China" he added. At present United Airways operates flights in London 2 days in a week and in Dubai, Kuala Lumpur, Kathmandu, Kolkata it operates flights 3 days a week The company plans to operate flight in London for 5 days instead of 2 days. And in case of Kuala Lumpur and Kathmandu it plans to operate flight 7 days a week instead of two days. (More on page 14)
United Airways, a private sector air carrier plans to expand by increasing its number of fleet and flight destination. Company sources said, United Airways plans to buy two large size Airbus-300-600 and one mid size MD-831 to meet its excessive flight destination plan in Asia and Europe. To finance its expansion plan, the aviation company, also a listed one has already initiated its effort to raise money by offering right share to their investors. With 100 per cent premium on the face value of Tk 10 the company has sought right share permission to the Securities and Exchange Commission (SEC) to finance its future ambition. Apart from the domestic flight currently United Airways operates flights in London, Dubai, Kuala Lampur, Kathmandu, Kolkata and Bangkok. When contacted the company secretary of the United Airways ATM Nazrul Islam told FE that as part of the financing the plan, the company has offered right share with premium to investors. "We will use our aircraft mainly to operate more flights in London and to commence our operation in Sri Lanka and China" he added. At present United Airways operates flights in London 2 days in a week and in Dubai, Kuala Lumpur, Kathmandu, Kolkata it operates flights 3 days a week The company plans to operate flight in London for 5 days instead of 2 days. And in case of Kuala Lumpur and Kathmandu it plans to operate flight 7 days a week instead of two days. (More on page 14)