In a surprising twist, Nepal Airlines Corporation is knocking on international doors, asking for a whopping 1.01 billion (Rs135 billion) to bail itself out. This move, unbeknownst to the government, is the largest loan request ever made by a Nepali company abroad.
The airline’s plea, a mix of Rs55 billion (5 million) for existing loans, Rs75 billion (5 million) for new planes, and Rs5 billion ( million) for a hangar, aims to ease its financial burden. They’re looking at a 25-year repayment plan with a standard fixed interest rate.
While the government seems caught off guard, the airline insists this is the boost they need to revamp their fleet and ditch high-interest domestic loans. However, given the airline’s history of mismanagement and scandals, skeptics are questioning the ambitious move.
With a proposal deadline set for March 7, Nepal Airlines remains optimistic that this international financial injection will be the game-changer they desperately need.