Nepal Airlines requests tourism ministry to increase authorized capital

31st Jul, 2020 | Tourism Mail Crew

KATHMANDU, July 31: Nepal Airlines, which has been operating international cargo, charter and rescue flights, has earned Rs 1.5 billion during the lockdown period from March to July.

However, the airlines have requested the Ministry of Tourism to increase the authorized capital after the company's four-month earnings were spent on the company's operating expenses. According to airlines sources, about Rs. 480 million has been spent on salaries and allowances for the employees till July. In addition, the monthly expenditure of the airlines on other titles is Rs. 120 million. The airlines has paid around Rs. 800 million to various things including salaries and allowances of the employees, various fees of the Civil Aviation Authority and fuel to the airlines.

Similarly, The airlines has already paid Rs 550 million for the refund of the advance ticket booked for four months when the regular flight was canceled due to Covid-19. According to the airlines, this process is still going on. The corporation had earned Rs. 16 billion in the fiscal year 2075/76. But last year, revenue fell by Rs 13 billion due to the Covid-19 effect.