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Kathmandu, Nepal: Nepal Airlines Corporation (NAC) has demonstrated significant financial progress by paying off Rs 6.32 billion of its aircraft acquisition loan, marking a crucial step in its fleet modernization efforts. The national carrier recently made a payment of Rs 530.9 million, covering the complete installment for its narrow-body aircraft and partial payment for wide-body planes purchased through loans from the Employees Provident Fund and Citizens Investment Trust.
In a strategic move, NAC has requested both lending institutions to consider interest and penalty concessions for the COVID-19 period, during which the aviation industry faced unprecedented challenges. The airline is also seeking restructuring of its loan repayment terms through increased installment options, acknowledging the pandemic's severe impact on its operations.
This development comes at a critical time for Nepal's aviation sector, as the national carrier works to strengthen its financial position while maintaining its fleet modernization goals. The loan repayment demonstrates NAC's commitment to meeting its financial obligations despite the industry's ongoing recovery from the pandemic's effects.
The airline's ability to maintain substantial loan payments while simultaneously seeking more flexible terms for COVID-era dues reflects its balanced approach to financial management and recovery planning. This strategy could set an important precedent for other state-owned enterprises dealing with similar pandemic-related financial challenges.
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