Kathmandu: Shree Airlines has posted a strong business performance in the first half of the current fiscal year, generating over Rs 2.53 billion in revenue in just six months. The airline reported earnings of Rs 2.534 billion during the period, continuing its upward growth trend in Nepal’s competitive domestic aviation market.
The company’s annual performance also reflects steady expansion. In the previous fiscal year, Shree Airlines recorded total revenue of Rs 5.109 billion, marking a 25 percent increase compared to the year before. Its revenue stood at Rs 4.072 billion in 2024, Rs 4.264 billion in 2023, and Rs 3.459 billion in 2022, showing consistent growth over the years.
According to the company, the rise in revenue has been driven largely by fleet expansion and increased service capacity. Shree Airlines added three additional Q-400 aircraft, bringing its total operational fleet to 17 aircraft, which has enabled it to serve more passengers and routes efficiently. This expansion has played a key role in boosting overall business volume.
Profitability has also improved. The airline reported an operating profit margin of around 30 percent in the last fiscal year, up from 21 percent in both 2021 and 2022. Initially operating Bombardier CRJ aircraft since 2017, the company later transitioned more fully into passenger services, strengthening its position in the domestic aviation sector.
Today, Shree Airlines ranks as the third-largest domestic carrier in Nepal, holding approximately 19 percent market share, up from 16 percent in 2024. The airline’s growth reflects increasing demand for domestic air travel as well as its strategic focus on high-traffic routes.
Originally registered in 1999 under the name Air Ananya, the company later rebranded as Shree Airlines Pvt. Ltd. and transitioned into a public company in 2023. It currently operates a mix of aircraft, including nine Bombardier planes, two jets, and seven turboprop aircraft. In addition to fixed-wing services, the airline also maintains a strong presence in the rotor segment, operating six Mi-8 helicopters and two AS350 B3 helicopters for charter and specialized services.
A significant portion of the airline’s revenue comes from key trunk routes. Flights between Kathmandu and Nepalgunj, as well as Kathmandu and Dhangadhi, account for 51 percent of total earnings. The Kathmandu–Surkhet route contributes an additional 9 percent, highlighting the importance of western Nepal routes in the airline’s revenue model.
The company is predominantly owned by Sudhir Mittal, who holds a 99.90 percent stake. To support its expansion and operations, Shree Airlines has secured credit ratings totalling Rs 4.682 billion, including Rs 3.258 billion for long-term borrowing and Rs 1.423 billion for short-term financing.
With a growing fleet, expanding market share, and strong performance on key domestic routes, Shree Airlines continues to strengthen its foothold in Nepal’s aviation industry while positioning itself for further growth.
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