Nepal airplane crash updates: Crores to come back; Airport Authority has grounded Shaurya Airways in 2018

On Wednesday morning, a airplane crashed in Nepal, killing 18 individuals besides the pilot. The airline belongs to Shaurya Airways, which was defunct in 2018 after paying taxes to the Kathmandu airport operator.

Kathmandu Airport suspended Shaurya Airways flights on December 6, 2018. The transfer got here after the service did not repay $355,000 in arrears. After signing a partnership settlement with India’s Kuber Group, the financially struggling airline obtained a brand new lease of life.

The Kuber Group, which owns 49 p.c of Shaurya Airways, reportedly acquired the shares for $5.6 million.

The remainder of the shares belong to Nepali shareholders. It is because international firms can’t personal majority shares of any firm working in Nepal in line with Nepalese regulation.

Based on a report, the airline was allowed to renew operations in 2020 after paying a part of the taxes owed to the airport.

The airline operates three Canadian Bombardier CRJ-200 plane with 50 seats, one among which crashed on Wednesday morning. The plane, a CRJ-200ER with registration 9N-AME, was manufactured in 2003. The accident occurred whereas it was being taken to the Pokhara Regional Airport for repairs.

The Pokhra-bound airplane was taking off from the southern finish of the runway when it all of a sudden misplaced management, turned again and crashed right into a cemetery.

Nepal’s aviation trade is reeling beneath monetary stress as a result of Covid-19 period. Final yr, the aviation regulator ordered a monetary audit of home airways after a Yeti Airways airplane crashed in Pokhara, killing all 72 individuals on board, together with 5 Indians.

Final yr, in line with a report by HRM Nepal, Sourya Airways minimize its workforce by 40 p.c as a cost-cutting measure. The report additionally talked about that the 2 planes on the airline require upkeep for regular operation.

The HRM report quoted Shaurya Airways sources as saying that the Kuber Group didn’t see any return from its earlier investments and has stopped additional investments.

“This case has pressured pilots working with Shaurya Airways to hunt job alternatives in different airways. The corporate is prone to shut down inside a number of months.” The HRM report quoted the supply as saying.