NAC pays back Rs 6.32 billion loan

 

The Nepal Airlines Corporation (NAC) has so far paid back Rs 6. 32 billion of the loan it had taken for purchasing aircraft for international flights.

The national flag-carrier had taken loan from the Employees Provident Fund and Citizens Investment Trust for the two narrow-body and two wide-body aircraft that it purchased, NAC said in a press release.

NAC spokesperson Ramesh Poudel said the airlines on October 16 paid Rs 530. 95 million that included 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 in the loan payment by increasing the number of installments, as there was adverse impact on the airline's business during that period.