Nepal Airlines Corporation has cleared NPR 6.32 billion in debt
corporation confirmed the payment of the October installment for two narrow-body planes and a partial payment for two wide-body planes.
Samrat Timalsina
kathmandu : Nepal Airlines Corporation announces it has paid off a debt of NPR 6.32 billion. This repayment is part of the loan taken from the Employees' Provident Fund and the Citizen Investment Trust for the purchase of two narrow-body and two wide-body aircraft for international flights.
In a statement, the corporation confirmed the payment of the October installment for two narrow-body planes and a partial payment for two wide-body planes. On October 30th alone, NPR 530.9 million was repaid, according to spokesperson Ramesh Paudel.
Due to the adverse impact of COVID-19 on its business, Nepal Airlines has requested the Employees' Provident Fund and Citizen Investment Trust for leniency in interest, penalties, and fines during the pandemic. The corporation also asked for an extension in the number of installments to ease the repayment process.
