NAC pays Rs 3 billion principal and interest on loans in a year

Kathmandu: Nepal Airlines Corporation, has paid around Rs 3 billion principal and interest during one year period.

NAC Spokesperson Ramesh Poudel said Rs 2.94 billion of loan liability taken to purchase two narrow-body and two wide-body aircraft for international flights has been paid.

Such amount of principal and interest of the loan from June 15, 2022, to April 13, 2023, was provided to Employees Provident Fund and Citizen Investment Trust, according to NAC.

The NAC provided Rs 1.35 billion to both organizations from mid-June- to mid-July, 2022, Rs 739.55 million from September 17 to October 17, 2022, Rs 339 million from December 16, 2022-Januray 14, 2023, and Rs 539 million from March 15 till April 13.

Poudel shared that the NAC has now become able to pay an installment of loans regularly to both organizations after NAC’s income improved with the situation returning to normalcy after being hit hard by the coronavirus pandemic.

RSS