NAC pays back 6.32 billion rupees loan

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

Issuing a press release, NAC said 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 spokesperson Ramesh Poudel said the airlines on October 16 paid Rs 530 million 955 thousand 281 including 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 the loan payment by increasing the number of installments, as there was an adverse impact on the airline’s business during that period.

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