Nepal Airlines has paid more than 73 crore for installment of debt obligation payable to Employees Provident Fund and Citizen Investment Fund.
Ganesh Kumar Ghimire, co-spokesperson of the company, informed that the company paid Rs. 739.55 million on October 17 as part of the payment of the debt due to funds for the purchase of the aircraft.
According to the company, 530 million nine lakh 55 thousand 281 rupees was paid for the loan and interest for the purchase of narrow-body aircraft.
Similarly, in the case of the Citizen Investment Fund, the installment amount of Rs 20 crore was paid for the installment of the loan liability for the purchase of the Widebody aircraft.
Earlier, the company said that on July 14, Rs. One billion and 350 million were disbursed to the two funds.
Co-spokesman Ghimire said on scheduled flights, occupancy rates have improved, revenue has increased and the company has been able to regularly pay its debts. He said the company’s revenue has improved as all four international flights are flying at full capacity.
The company had borrowed about $37 billion to buy A-330 widebody and A-320 narrowbody ships. Due to the increase in loans and interest, the payment debt reached almost 45 billion.