Bangladesh’s Regent Airways to be liquidated as parent company falls apart

Regent Airways, one of the eleven companies owned by Habib Group, a Bangladeshi industrial conglomerate, is on the verge of being liquidated over unpaid aircraft lease. The airline ceased commercial operations in 2020, due to the pandemic outbreak. Since then, reports have emerged of the airline planning to restart services, but the plan never took action. Wilmington Trust Company has initiated legal action against the Habib Group in Bangladesh High Court, reports Bangladesh Business Standard. Lawyers involved in the case have claimed that Regent Airways Limited, a sister concern of the Habib Group, had rented aircraft from Wilmington Trust Company