Yeti Airlines (YT, Kathmandu) is planning a stock exchange listing via an initial public offering (IPO), according to the airline's executive chairman, Lhakpa Sonam Sherpa. He made the announcement, as reported by the Tourism Mail outlet, during an event in Kathmandu on September 25 to mark the carrier's 25th anniversary.
Sherpa did not provide further details or an IPO timeline other than to say it would happen "soon." ch-aviation has contacted Yeti Airlines for further information. However, a listing would have the support of the Civil Aviation Authority of Nepal (CAAN), whose director general, Pradeep Adhikari, was in attendance and said that taking the company public would encourage it to "move forward."
Yeti Airlines flies to 11 destinations within Nepal with a fleet of five ATR72-500s, according to ch-aviation fleets and ch-aviation capacities data. Its subsidiary, Tara Air, flies to smaller airports in the country using a single DHC-6-300, and two DHC-6-400s. One of Yeti's ATR - Avions de Transport Régional turboprops crashed while on final approach to Pokhara International in January, killing 72 people and resulting in a countrywide overhaul of flight regulations. Sherpa said that despite his airline's "numerous ups and downs" he was confident that the IPO will be a success and offer public investors the chance to take a stake in the airline's future.
Yeti Airlines did not respond to a request for comment.
