July 18: Nepal Airlines Corporation (NAC) has made a payment of Rs 830.95 million to the Employees Provident Fund (EPF) and Citizen Investment Trust (CIT).

The payment was made as the loan installment for the last month of the previous fiscal year. The loan was originally taken from EPF and CIT to acquire two narrow-body and two wide-body aircrafts.

In addition to this recent payment, NAC had previously paid Rs 2.94 billion in installment amounts between June 15, 2022, and April 13, 2023. This payment covered a period of almost 11 months.

NAC's press release stated that the corporation has experienced business expansion and improvement in its income compared to previous years.

Besides repaying the EPF and CIT loans, NAC has also settled arrears with various agencies. The corporation continues to make installment payments to EPF and CIT.

NAC has further revealed that an action plan has been initiated to procure three small-size aircraft using its internal resources. The objective behind this plan is to provide services in remote areas, considering the immediate need.