Nepal set to get cargo airline in an ambitious start-up project

© Dr Ajay Kumar Singh

An odd little air freight story. Nepal is set to get its first long-haul cargo airline, operating charter services around South-east Asia, following an MoU between Simrik Airlines and US start-up Sapphire Global Airways. Sapphire will take a 70% stake in the joint-venture, worth $150m. They expect to start within a year, with two 777s, and eventually expand operations to Europe. Simrik currently carries passengers in a Dornier 228 and Beechcraft 1900. It also owns a national newspaper and is launching a TV station. Sapphire is yet to launch, making the joint-venture a fairly ambitious project.