Citizen Investment trust interested for investing in the purchase of two wide body aircraft by NAC

Nepal Airlines - Aviation Nepal
Predicted livery for Nepal Airlines wide body Airbus 330 Aircraft

Citizen Investment trust interested for investing in the purchase of two wide body aircraft by NAC

December 30, 2016-KATHMANDU

Citizen Investment Trust is likely to provide loan to Nepal Airlines Corporation for the acquisition of two wide body aircraft.

It is still not yet decided that how much amount of credit will be provided.

The trust did not have enough investment prospects which made them to invest in NAC’s purchase.

As per a source, the trust has fixed deposit of amount 55 arab 99 crores 30 lakhs rupees and the trust is ready to offer huge amount of loan to NAC.

The two parties will hold a meeting where the amount and the interest will be fixed after which the provision of loan would be finalized.

The investment trust can provide loan on government’s guarantee. NAC has made agreement to buy two Airbus A330s with American company, AAR Corporation at a cost of 22 arab 56 crore rupees.

But, CAAN has indicated that Tribhuvan international Airport (TIA) does not have the capacity to hold the two new aircraft at current state especially due to congestion in the airport vicinity. Since the development works to be done in TIA did not go as planned, the operation of the upcoming aircraft would be quite difficult.

 Likewise, Himalaya Airlines has also stated that a new Airbus A320 will arrive in between January and February, 2017 and the scheduling would be done accordingly.

The aircraft can be accommodated when the construction of two new Bay would be completed which will take around 14 to 18 months’ time.

TIA has been serving almost double passengers than it can serve with its usual capacity at recent times.

 

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