Nepal Airlines Repays Part of Loan for Aircraft Purchase, Requests Waivers on Interest and Penalties

Nepal Airlines Corporation (NAC) has made significant progress in repaying the loan it secured from the Employees Provident Fund (EPF) and the Citizen Investment Trust (CIT) for the acquisition of aircraft.

NAC has repaid over Rs 430 million towards its loan obligations for the purchase of two narrow-body and two wide-body aircraft intended for international flights. As of mid-July 2024, the two narrow-body aircraft loans have been fully repaid, while partial payments have been made on the loans for the two wide-body aircraft.

NAC Spokesperson Ramesh Poudel announced that the corporation has paid more than Rs 5.79 billion in installments up to mid-July 2024 since he took over management of the corporation.

Given the severe impact of the coronavirus pandemic on its business, NAC has requested the EPF and CIT to consider waiving interest, fines, and penalties to aid in the facilitation of repaying the remaining loan obligations.