Dhaka, April 26:

Bangladesh Biman, the national carrier and the country’s only airline, is set to become a public limited company under a revamp plan aimed at reducing its huge losses and operational costs.

A golden handshake is likely to be offered to half of the airline’s 6,838 employees under a plan cleared by the government yesterday.

“The government is thinking about making the national airlines profitable by turning it into a public limited company. But the government will own 100 per cent shares,” said communications and civil aviation adviser M A Matin.

Set up in 1972, Biman has been gasping for funds to buy new aircraft and equipment and also for its operational cost expenditure. The Khaleda Zia government had last year refused funds and asked it to raise money from the market.

Biman, which has 15 aircraft for domestic and international operations, was hit hard last year when it was restricted from flying to the US and Canada on grounds of air safety, reported The Daily Star.

A high-powered committee, headed by the secretary of the civil aviation ministry, recommended transforming the corporation into a public limited commercial company.