KATHMANDU: Nepal Airlines (Nepal Airlines) has made a payment of Rs 430.95 million towards the installment for aircraft purchases.
According to the airline’s spokesperson, Ramesh Poudel, the payment includes the full installment for two narrow-body aircraft for the month of Ashad the last month of FY 2079/80, and a partial payment for wide-body aircraft, covering up to the end of Ashad.
The airline had financed the purchase of two narrow-body and two wide-body aircraft through loans from the Employees Provident Fund (EPF) and the Citizen Investment Trust (CIT).
Since the new management took over, a total of Rs 5.79 billion has been paid in installments up to Ashad 2081 BS, as stated in the release.
Due to the adverse impact of the COVID-19 pandemic on its business, the airline has requested both funds to waive interest on interest, penalties, and fines for the affected period.
Additionally, the airline has sent a request to both funds to increase the number of installments to facilitate the repayment of the loan obligations.
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