Regent Airways (RX, Dhaka) has announced plans to pursue USD40 million in growth capital financing as it seeks to expand its current operations – on the international front in particular. To that end, the Bangladeshi carrier has enlisted California-based investment banking specialist DelMorgan & Co. to advise on strategic alternatives.
“With the infusion of USD40 million of additional capital from lenders or other investors, Regent will have the funds to pursue its near-term growth plans, increasing its route network, staying ahead of and further stimulating increasing passenger demand, and catapulting its current financial results to a new level of profitability,” Vahan Callan, Managing Director and Head of Aviation Finance at DelMorgan & Co., said in a statement.
Although the carrier did not specify its requirements, last year, the airline’s chairman, Yasin Ali, alluded to the acquisition of a 265-seater B777-200 which would be used to launch services to Kathmandu, Guangzhou, Jakarta Soekarno-Hatta, Colombo Int’l, and Malé.
Founded in 2010 by the Habib Group, Regent Airways is a commercial airline based out of Dhaka and offers scheduled passenger services to Chittagong, Cox’s Bazar, and Sylhet domestically as well as Bangkok Suvarnabhumi, Doha Hamad Int’l, Kathmandu, Kolkata Int’l, Kuala Lumpur Int’l, Muscat, and Singapore Changi internationally. In terms of fleet, it employs two B737-700s (leased from AerCap), four B737-800s (leased from GECAS and Standard Chartered Aviation Finance), and two Dash 8-300s.