The Nepal Airlines Corporation (NAC), has furnished an instalment of Rs 730,900,000 under the debt obligation.
The NAC paid the instalment to the Employees' Provident Fund and the Citizens' Investment Fund on Monday (October 17), said the corporation.
The NAC submitted Rs 530,900,000 including the interest accrued and the loan it had borrowed from the Employees' Provident Fund to purchase the narrow body plane.
Similarly, the corporation has paid an instalment of Rs 200 million including the interest and the loan it had borrowed from Citizens’ Investment Fund.
The NAC which was unable to pay the loan for the last three years cleared it on Monday after the revenue increased following the improvement in regular flight occupancy, said Ganesh Kumar Ghimire, the Deputy Spokesperson of the NAC.
The corporation has also paid Rs 1.35 billion under the debt obligation to the two funds.
.
