NAC pays back loan amounting to Rs 6.32 billion

KATHMANDU, OCTOBER 17 : The Nepal Airlines Corporation (NAC) has so far repaid Rs 6.328 billion of the loan it had taken to purchase aircraft for international flights. The national flag carrier had borrowed money from the Employees Provident Fund (EPF) and the Citizens Investment Trust (CIT) to acquire two narrow-body and two wide-body aircraft, according to a press release issued by NAC.

NAC spokesperson Ramesh Poudel stated that on October 16, the airline paid Rs 530.955 million, covering the full instalment for the two narrow-body aircraft for the month of Asoj (mid-September to mid-Ictober) and a partial instalment for the two wide-body aircraft.

The NAC has requested both the Fund and the Trust to provide concessions on interest and penalties incurred during the COVID-19 period, citing the severe impact the pandemic had on its operations. Additionally, the airline has appealed for an increase in the number of instalments to ease its loan repayment process.

 

 

 

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