March 20: The operating income of Buddha Air, a leading private sector airlines company of Nepal, has increased by three folds compared to the two fiscal years affected by the Covid-19 pandemic.

According to the information released by ICRA Nepal, a government recognized rating company, the income of Buddha Air has increased significantly during the last fiscal year.

The airline company, which had an operating income of Rs 4.94 billion in the fiscal year 2076/77 when coronavirus first appeared, has made such an income of Rs 12.16 billion in the fiscal year (FY) 2079/80.

In addition, the company has made an operating income of Rs 3.83 billion in the first three and a half months of the current fiscal year, according to the unaudited data of the company.

The company has seen a significant improvement in its income after the coronavirus pandemic subsided. The increase in the number of air passengers after coronavirus subsided made a positive contribution to the company's income.

According to the Tribhuvan International Airport Office, Buddha Air served 25,77,618 passengers in the year 2023. The number of flights operated by Buddha Air is also the highest among domestic airlines companies.

The report prepared by ICRA Nepal mentions that Buddha Air's income increased in FY 2079/80 despite the increase in the price of aviation fuel. According to the report, the company's market share has also increased. The market share is estimated to reach 67 percent in the coming year.

Buddha Air has been operating domestic and international flights (Beneras in India) for the past 27 years. The company has been continuously increasing the number of aircraft.

According to ICRA Nepal, the operating income of Buddha Air in 2018 was Rs 6.8 billion. In 2019, such income reached Rs 6.80 billion.

The increase in the company's income has been attributed to the increase in the number of aircraft as well as passengers.

Buddha Air, which started domestic flights with 18-seat capacity aircraft, currently has 17 aircraft. All of them are ATR. Buddha has 14 ATR 72-500 series with 70 seat capacity and three ATR 42-300 series with 47 seat capacity. The company has been flying to 15 different destinations with its base in Kathmandu.