NAC pays Rs 6.32 billion loan

Kathmandu, Oct 17: 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 a 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 including the full instalment for the two narrow-body aircraft for the month of Asoj and the part instalment 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 the loan payment by increasing the number of instalments, as there was an adverse impact on the airline's business during that period. (RSS)