Nepal Airlines Corporation Repays Loan Installment

Nepal Airlines Corporation has made a payment towards the loan it took to purchase its aircraft for international flights. The payment covers the installment for the period up to the end of the Nepali month of Ashoj for two narrow-body and two wide-body airplanes.

Payment Details

The corporation issued a press release on Friday stating it paid a total of 53 crore 9 lakh 55 thousand and 281 rupees. This payment fully covers the installment for the two narrow-body aircraft and partially covers the installment for the two wide-body aircraft. These loans were taken from the Employees Provident Fund and the Citizen Investment Trust. Under the category of aircraft purchase loan obligations, the corporation has now paid a total of 8 arab 45 crore 24 lakh 18 thousand and 657 rupees for the period up to the end of Ashoj.

Request for Financial Relief

The press release also mentioned that the corporation's business has been negatively affected by the global COVID-19 pandemic. Due to this, the corporation has sent a formal request to the Employees Provident Fund and the Citizen Investment Trust. It has asked for assistance in the form of a waiver on the interest on interest, penalties, and late fees. Additionally, it has requested an increase in the total number of loan installments to make the repayment process more manageable. The release noted that positive discussions on this matter are currently underway.