NAC pays back Rs 6.32 billion loan

KATHMANDU, Oct 18: The Nepal Airlines Corporation (NAC) has so far paid back Rs 6 billion 328 million 597 thousand of the loan it had taken for purchasing aircraft for international flights. 

The national flag-carrier had taken loan from the Employees Provident Fund and Citizens Investment Trust for the two narrow-body and two wide-body aircraft that it purchased, NAC said in a press release. 

NAC spokesperson Ramesh Poudel said the airlines on October 16 paid Rs 530 million 955 thousand 281 that included the full installment for the two narrow-body aircraft for the month of Asoj and the part installment for two wide-body.  

The NAC has urged the Fund and the Trust to grant concession on the interest and penalty during the COVID-19 period and to facilitate in the loan payment by increasing the number of installments, as there was adverse impact on the airline's business during that period.