FlyYeti to suspend operations mid-July - cites uncertain conditions in Nepal
01 Jul 2008
Kathmandu, Nepal: Ongoing political uncertainty in the land-locked Himalayan country, Nepal, has caused an unusual casualty in that FlyYeti – the country's first low-cost carrier (LCC) has announced it will suspend operations in the country from the middle of this month.
In a statement, the LCC said that the decision was taken by the management keeping in mind the political environment in the country, which had impacted the airline's ability to renew its current aircraft leasing agreements.
These are always subject to government approval and expire by the middle of the month..
The airline said the political uncertainty, combined with difficult operating conditions in the country and an opaque regulatory environment, had led the management to decide that it was in the best interest of the company and its passengers to suspend operations temporarily.
Launched on 20 January 2008, the airline has experienced an extremely favourable seat-load factor of 80 per cent.
The company said it will continue to closely monitor the political and market conditions in the country, and resume operations as and when conditions stabilise.
