Nepal Airlines pays more than Rs 430 million as installment to EPF and CIT

KATHMANDU, July 19:Nepal Airlines Corporation (NAC) has paid 43,09,55,281 rupees in aircraft purchase installments as of asar.

With loans from the Employees Provident Fund (EPF) and the Citizen Investment Trust (CIT), the NAC purchased two narrow-body and two wide-body aircraft for international  flights.

According to the NAC, two installments of the narrow-body plane in Asar 2081 were paid in full, while the wide-body aircraft was partially paid on Asar 31.

Under the current management, the corporation has paid installments of Rs 5,79,76,42,249 until Asar 2081.

The NAC's business has also suffered as a result of the Corona pandemic, and the NAC has asked assistance from both funds by exempting the interest and penalty for the impacted time period.

In addition, the NAC addressed a letter to both funds requesting that the number of installments be increased to aid settlement of the debt obligations.

Ramesh Paudel, the NAC's spokesperson, said that conversations are also occurring in this area.