Nepal Airlines is facing a huge loss. One reason for this is also the aircraft made in China. Now Nepal Airlines has decided to sell its five Chinese-made aircraft as no one wants to take these planes on lease. According to Nepali media, these planes spent more time on the ground than in the air. These planes were becoming a financial burden on the debt-ridden national flag carrier Nepal Airlines.
Nepal Airlines acquired the first batch of Chinese planes about 8 years ago. Now the airline finally decided that it will sell them after the instructions of the Finance Ministry. In 2012, the Nepalese government extended a purchase agreement for four Y12E and two MA60 aircraft from China. One of these planes is no longer in flying condition after the crash, while the remaining five are standing idle in the parking lot of Tribhuvan International Airport.
Apart from maintenance issues and a lack of spare parts, Nepal Airlines is also not getting pilots to fly the aircraft. The report said that after all these problems, there was no point in keeping those planes anymore. The bidding deadline set by Nepal Airlines is October 31. Some top Nepal Airlines executives say they don't think anyone will lease these planes anymore.
The Finance Ministry is said to have instructed the corporation to prepare to sell these planes to anyone. He became a headache ever since Nepal fielded him in 2014 after buying a Chinese plane. Now as the losses are increasing, the situation has become that these aircraft have to be sold at a loss price. In November 2012, Nepal Airlines Corporation (NAC) signed a commercial agreement with the Aviation Industry Corporation of China (AVIC), a Chinese government undertaking, for the purchase of aircraft.
At that time, China provided grants and concessional credit assistance of 408 million Chinese yuan, equivalent to 6.67 billion Nepalese rupees. Of the total assistance, a grant of 180 million yuan (Nepali Rs 2.94 billion) went to pay for one MA60 and one Y12e aircraft. The other aircraft were purchased for 228 million yuan (Nepali Rupees 3.72 billion) with a soft loan provided by China's Exim Bank.
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