Kathmandu, Jan 17: Nepal Airlines Corporation (NAC) has made the payment for the loans incurred for the purchase of two narrow-body and two wide-body aircraft for international operations. The payment includes principal and interest of the loan taken from the Employees Provident Fund and Citizens Investment Trust of Nepal.
According to a press release, the NAC has paid Rs. 530,955,281 upto Poush, 2081 in the current fiscal year. The current management of NAC has cleared a total of Rs 6.98 billion in principal and interest so far, the statement said.
Due to the impact of the COVID-19 pandemic on global aviation, NAC’s financial operations have been significantly affected. The increase in loan obligations and operational costs has been a challenge. Despite these constraints, NAC remains committed to fulfilling its financial responsibilities and has formally communicated with creditors for necessary adjustments, it said. #nepal #NAC
