Airplane hangar rents are finally coming down
It has been decided to reduce the rent of all hangars at airports in Bangladesh. For a long time, the Aviation Operators Association of Bangladesh (AOAB) had been demanding the Ministry of Aviation and the Civil Aviation Authority due to excessive lease rates. Finally, a policy decision to reduce the hangar rent was taken in the latest Civil Aviation Authority (CAA) board meeting. In the meeting, the redetermination committee proposed a new lease rate by reducing the rent, which will be sent to the administrative ministry for approval. If approved, the lease rate will be reduced. In that case, airlines can also reduce ticket prices due to the reduction in aircraft maintenance costs.
According to CAA sources, the price was determined on the basis of a 15-year payback period for the development of Bangladesh’s aviation sector and the development of the macro economy. However, the lease rate was relatively high due to the high construction cost and height of the hangar. The location of the hangar and other reasons increase the additional costs of the airlines, which increases their operating costs.
In addition, the meeting also discussed the use of the ground and second floors of the five-storey building built under the hangar project as a general aviation terminal building. Plans have also been made to build a separate gate for helicopter passengers.
In the new proposal of the committee formed to re-fix the lease price of the hangar, the base price of the lease per square foot will be 40 taka and the lease price from July 2024 to June 2025 will be 41 taka per square foot. After an annual increase of 2.5 percent per year, the lease price from July 2028 to June 2029 will be 46 taka 39 paisa. This will be implemented after getting approval from the ministry.
In this regard, Kamrul Islam, Director General (Public Relations) of private airline US Bangla, said, “Non-aeronautical charges in our country are much higher than other countries. Although we have appealed to the regulatory authority to reduce it, no action has been taken so far.” However, we are hopeful that the authorities will soon take initiatives to advance the country’s aviation sector. Reducing the hangar lease price will reduce our operating costs. Then there will be an opportunity to reduce the rent to some extent.
Bebichok Chairman Air Vice Marshal Md. Manjur Kabir Bhuiyan told our time that the proposal to re-fix the hangar lease price has been sent to the ministry. If approved, it will go to the finance ministry, where it will be implemented if approved. This decision has been taken to save domestic airlines.
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