Nepal

NAC pays Rs 3 billion principal and interest on loans in a year

KathmanduPati April 20, 2023

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KATHMANDU – Nepal Airlines Corporation, has paid around Rs 3 billion principal and interest during one year period.

NAC Spokesperson Ramesh Poudel said Rs 2.94 billion of loan liability taken to purchase two narrow-body and two wide-body aircraft for international flights has been paid.

Such amount of principal and interest of the loan from June 15, 2022 to April 13, 2023 was provided to Employees Provident Fund and Citizen Investment Trust, according to NAC.

The NAC provided Rs 1.35 billion to both organisations from mid-June- to mid-July, 2022, Rs 739.55 million from September 17 to October 17, 2022, Rs 339 million from December 16, 2022-Januray 14, 2023 and Rs 539 million from March 15 till April 13.

Poudel shared the NAC has now become able to pay installment of loans regularly to both organisations after NAC’s income improved with the situation returning to normalcy after being hit hard by coronavirus pandemic.