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Druk Air's BAe 146 aircrafts sold Jul 2007
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Druk Air's BAe 146 aircrafts sold

Druk Air Corporation Limited has found a buyer for its two BAe 146 jets, which it had been trying to sell since 2004.

A sale agreement had been signed and the buyer, a company based in Europe, had deposited a non-refundable deposit of USD 200,000 this week, according to Drukair officials.

The price of the aircraft was negotiated at USD 3.30 million with a two percent payable as commission to the agent who initiated the deal on behalf of Drukair. The jets will leave Bhutan by September 2007.

Finding a buyer for the aircraft was difficult because of the huge difference between the book value of the aircraft and the price available in the market. The aircraft was also out of production and its age made it ineligible for import in many countries.

Despite losing Nu 142.526 million from the sale of its two old BAE-146 aircraft, Drukair has managed to stay out of the red, for the second year in a row, by making a net profit of Nu 31.15 million in the 2006-07 financial year.

The two old aircraft were sold for around US$ 3.5 million, along with an extra engine and spare parts. "Due to the good condition and maintenance of our aircraft, we got a very good international price, considering that in China these planes were being sold for US$200,000 a plane," said Drukair's deputy managing director of finance, Rinzin Dorjee.

Source: KUENSEL, Bhutan's National Newspaper 2007 and 2008
BAe 146-100
BAe 146-100
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