KATHMANDU, Oct 17: Nepal Airlines Corporation (NAC) has paid back Rs 6.328 billion in loans borrowed from institutional lenders so far.
The NAC has paid back the loans taken from the Employees Provident Fund (EPF) and the Citizen Investment Trust (CIT) for the purchase of two narrow-body and two wide-body aircraft for international flights.
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Ramesh Paudel, spokesperson for the NAC, said that the NAC paid the full installments of two narrow-body aircraft and partially paid Rs 535 million for two wide-body aircraft on October 16.
Due to the adverse impact of COVID-19 on the NAC’s business, it is mentioned in the statement issued by the NAC that it has requested the EPF and the CIT to cooperate by waiving the interest, damages and penalties for that period and to facilitate the payment of loan repayment by increasing the number of installments.
