Nepal Airlines Corporation (NAC) repays Rs 830.95 million loan to EPF and CIT

July 18, Kathmandu: Nepal Airlines Corporation (NAC), the national flag carrier, has successfully fulfilled its financial obligations by repaying a loan of Rs 830.95 million to the Employees Provident Fund (EPF) and Citizen Investment Trust (CIT).

This payment represents the loan installment for the final month of the previous fiscal year. The loan was initially obtained from EPF and CIT to facilitate the acquisition of two narrow-body and two wide-body aircraft.

Furthermore, NAC has demonstrated its commitment to meeting its financial responsibilities by previously paying a substantial installment amount of Rs 2.94 billion from June 15, 2022, to April 13, 2023. The airline has consistently fulfilled its payment obligations to various agencies, including EPF and CIT.

NAC attributes its ability to meet these financial commitments to its expanded business operations and improved income compared to previous years.

The corporation has also outlined an action plan to procure three small-sized aircraft using its internal resources. This strategic move aims to enhance service provision in remote areas, addressing the immediate needs of the region.

NAC’s successful repayment of its loan and its proactive approach to enhancing its fleet highlight the corporation’s dedication to financial stability and the provision of quality air services.