NAC pays Rs 554 million to EPF and CIT

KATHMANDU:Nepal Airlines Corporation (NAC) has paid the installment of the loan taken to buy two narrowbody and two widebody aircraft for international flights till  October 17, 2023.

According to the NAC, the two narrow-body planes have been fully paid for the month of October 17, 2023 out of the debt obligations acquired from the Employees Provident Fund (EPF) and Citizen Investment Trust (CIT), and the two wide-body planes have been partially paid Rs Rs 554 million.

Previously, the NAC paid installments totaling Rs.3.77 billion.

Ramesh Poudel, the NAC's spokeswoman, stated that the corporation's commercial expansion and income had improved over the previous year, as has its cash flow.

Meanwhile, Poudel stated that the expenses for engine maintenance, regular and emergency ship maintenance, and old arrears from various agencies have been regularized by paying from their own resources.