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NAC to send a team to China for training

As process moves forward for Nepal Airlines to acquire six new Chinese aircrafts, the corporation is planning to send a team of pilots, engineers and technicians to China next week.

Speaking at a press conference organised at the Ministry of Information on Monday, Mohan Krishna Sapkota, joint secretary at the Ministry of Culture, Tourism and Civil Aviation, informed that the registration for the six aircrafts is under process. The aircrafts will be used for domestic flights by the corporation. NAC is sending the team to train for the purpose.

In November, China had signed an agreement has agreed to provide Nepal grant and concessional loan assistance of RMB 408 million (equivalent to Rs 6671 million) to acquire and purchase six aircrafts.

Out of the total assistance, RMB 180 million (equivalent to Rs 2943 million) will be used to acquire one MA60 and one Y12E aircraft on grant basis and up to RMB 228 million (equivalent to Rs 3728 million) will be used to purchase one MA60 and three Y12E aircraft on loan basis.

Three separate agreements to this effect namely, Framework Agreement on Provision of Concessional Loan Assistance, Economic and Technical Cooperation Agreement for Grant Assistance and Government Concessional Loan Agreement, and Letter of Exchange were signed and exchanged between Finance secretary Shanta Raj Subedi and Chinese Ambassador Wu Chuntai on behalf of their respective governments in November.

The concessional loan received from The Export-Import Bank of China will be sub-landed to the Nepal Airlines Corporation for the purchase of the aircraft.

The loan will be repaid in 20 years with the grace period of 7 years and the interest of the loan will be 1.5 percent.

source: nepalnews.com, 13 Jan 2014

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