Biman Bangladesh Airlines has incurred a loss of Tk31.2 crore in the first six months of the year even after the new CEO, Kyle Haywood, had been hired to rescue the aviation business.
A series of irregularities and mismanagement are attributed to be the reasons behind the loss, said a source at Biman.
Following the appointment of Kyle Haywood, everyone expected that the national flag carrier will be able to make profit, overcoming losses.
Though Biman has totally brand new aircraft, the carrier continues to experience flight disruptions due to mismanagement.
Days after Kyle took the helm, Civil Aviation Minister Rashed Khan Menon told the Parliament that though Biman is incurring loss on domestic routes, it is making profit on international flights.
But the financial report of the airlines’ concerned division made it clear that Biman is running in reverse.
“Kyle Haywood didn’t fulfil our desire as expected. The national carrier turned into a loss-making organisation though it is paying millions to the CEO,” a mid-level officer of Biman said, requesting anonymity.
Kyle joined the Biman in last January. In February, Biman incurred a loss of TK7.97 crore while losses stood at around Tk16.91 crore in June.
The Biman board of directors, the highest policy-making body, became worried after consecutive losses in last six months despite its initiatives to rein in poor performance.
Asadujjaman, director (engineering), took the responsibility of an acting CEO in June while Kyle was absent.
The airlines has reduced its net loss to TK4.89 crore in July compared to the month of June.
During his tenure, Kyle has so far enjoyed nearly two-month leave, ignoring the company’s interest.
Even the CEO did not attend two scheduled board meetings on September 09 and 14, a Biman source said, adding that because of his absence, the meeting was not held.
There is another meeting today, but Kyle will still be absent in that, added the source.
The CEO was out of the country for a couple of weeks during the busy hajj flights in last September.
Even Biman top officials didn’t get any reply through email while the airlines was passing through critical juncture.
“By the time Kevin Steele was the CEO of Biman, I used to get 8/10 emails every day to do different jobs. Now I don’t get any email in a day from Kyle,” said a general manager of Biman on condition of anonymity.
“Sometimes we feel that we don’t have any CEO as we don’t get any advice or order to achieve any target.”
Kazi Wahidul Alam, former member, Biman board of directors, said the airlines achieved nothing by appointing Kyle Haywood, rather it is derailing, incurring a huge loss. Time has come to make some strategical changes to Biman, he suggested.
As the CEO didn’t obey the organisational rules, the board of directors should take stern action against him, or else the top management would not be able to maintain the chain of command, he added.
