According to the primary calculation, loss of the flag carrier was Tk 2.54 billion in 2013-14 financial year, beginning on July 1.
The figure is Tk 610 million or 32 percent higher than 2012-13 FY’s loss, which was Tk 1.93 billion.
Civil Aviation Minister Rashed Khan Menon disclosed the information to bdnews24.com after a meeting of Biman directors on Sunday afternoon.
Biman management was blaming the old aircraft in the fleet for its colossal losses for years, but the addition of new planes failed to reverse the losses.
Menon said: “A primary calculation has been done. It has not been audited yet. The early figures show Biman’s loss has stood at Tk 2.54 billion.
“(The figure) may drop a bit after audit.”
He blamed ‘high fuel prices’ for the loss. “Fuel alone accounts for 47 percent of Biman’s total expenditure. Fuel prices go up here due to VAT.”
“Another reason is old aircraft. Their maintenance and fuel cost are huge,” he added.
Biman management had appointed former British Airways official Kevin Steele as the airline’s managing director in the hope that its bad time would be over.
Steele had pledged to put the state-owned carrier in the black in two years, but quit midway failing to arrest the slide.
According to information available with Biman’s accounts department, the airline’s carrying capacity has dropped 19 percent even after addition of six new-generation planes.
Biman made profits only in four financial years since FY 1995-96. The profits were Tk 35.05 million in 2003-04, Tk 59.10 million in 2007-08 and Tk 155.7 million in 2008-09.