Airlines demand waiver of interest on bank loan

21 March 2020, Kathmandu

Air service operating companies have demanded  waiver of interest on a loan of at least one year taken from banks and financial institutions.

A meeting of the Airlines Operators Association of Nepal, an umbrella organization of Air Service Operators’ Companies, held on Thursday urged the banks and financial institutions to make arrangements to pay the loan taken in foreign currency in Nepali currency.

Association Spokesperson Yograj Kandel shared that the air service operator’s companies demanded the government to announce relief package, saying there was a negative impact on Nepal’s aviation sector with the spread of COVID-19 across the world.

Various demands including banks and financial institutions should issue a concessional loan to airline companies at mutual consensus were put forth before the government.

Issuing a press release, the Association urged the government to waive tax as an incentive, concession on interest, to provide a discount in landing, parking and other charges as it would take a long time to revive the aviation sector ruined due to coronavirus.

Similarly, all helicopter companies decided to ground helicopters from April 1, 2020, except for the helicopters made pre-agreement for flights.

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