AAR Corporation confirmed for two Airbuses deal (NAC)

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Photo: Nepal Airlines Airbus A320-233

AAR Corporation confirmed for two Airbuses deal (NAC)

January 16, 2017- Kathmandu

Nepal Airlines Corporation (NAC) progressed in obtaining two Airbus A330-200 long-range jets after its board unanimously settled to grant the supply contract to US-based AAR Corp.

The American aviation provision company has recited a value of $104.8 million for each aircraft.

The corporation allotted a letter of intent to the aircraft provider on Sunday after the final decision on Saturday night. A letter of intent is a manuscript articulating a purpose to enter into a bond at an imminent date.

NAC Managing Director Sugat Ratna Kansakar told that the company has asked the supplier to visit the county to sign the Memorandum of Understanding (MoU) which is slated to be finalized within two weeks and the technical and financial matters would be discussed after that.

He added that a technical team comprising of adherents of the two parties would be molded to hold comprehensive discussions which will be completed within three to four weeks.

NAC said that the ‘bid price’ cited by the company was not the final charge as it may go up marginally due to inflation when ending contract consultations are finished. A purchase agreement will be taken on after the negotiations when the cost of the aircraft will be confirmed.

A notice appealing applications from aircraft manufacturers, airlines, aircraft leasing companies and bankers for two Airbus A330-200 aircraft was dispensed on September 26. There were 11 confident suppliers, and the highest price parroted was $146 million.

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The national flag carrier has prearranged to welcome one A330 aircraft into its fleet by September and one more by March 2018.

NAC has postulated that the jets should not have more than 1,000 flight hours on them, and that the date of production should not be before January 2014.

The A330-200 it tactics to buy can lodge up to 280 travelers in a two-class layout.

The supplier should embrace the cost of a least set of flight and maintenance crews for the period of at least one year. It should also contain the cost of disposable spares and tools essential for day-to-day line maintenance up to the ‘A’ check level for a year.

The carrier has wished-for obtaining long-range jets to attend destinations in North America, Japan, Australia and the UK as they have been recognized as potential markets for Nepal over the next 20 years.

NAC bought two Airbus A320-200 aircraft in 2015 by borrowing Rs10 billion from the Employees Provident Fund in its first fleet expansion in 27 years.

The organization has been discussing with the Employees Provident Fund, Citizen Investment Trust and a number of commercial banks to get loans at a low-priced interest rate. The Finance Ministry has approved to act as a patron for the credit NAC plans to take.

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