Nepal Airlines’ aircraft purchase loan rises to Rs 55.04 billion from Rs 36 billion
▸ Part of: Nepal's Government Spends Nearly 60% of Budget, Capital Expenditure Trails at 28%
The loan taken by Nepal Airlines Corporation (NAC) to purchase Airbus aircraft has increased from Rs 36 billion to Rs 55.04 billion due to delayed principal and interest payments, according to the Office of the Auditor General. The airline borrowed Rs 22 billion from the Employees Provident Fund and Rs 12 billion from the Citizen Investment Trust under a government guarantee. The report indicates the debt burden is expected to rise further, highlighting concerns over weak financial management.
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