What\u2019s Leading to Bankruptcy?<\/strong>
\nThe national flag carrier was enjoying a monthly revenue surplus of NPR 12.54 million prior to the Airbus jets\u2019 deal.<\/p>\nAccording to the official data, the maintenance of these two jets for a month period (August 1-September 15, 2018) tripled airlines\u2019 expenses to nearly Rs 756.6 million, adding to its deficit of NPR 491.8 million and giving it a mere NPR 264.8 million in earnings.<\/p>\n
The two A330 jets are currently being used for less than seven hours in a day and less than 50 percent of the required flight time usually required to generate a decent profit.<\/p>\n
The deal added to the dire state of Nepal Airlines\u2019 finances, which was already facing the intensity of offering massive loans to various institutions, both long and short-term loans, which stand at NPR 41.73 billion and owes more than NPR 3.66 billion in interest annually.<\/p>\n
\u201cThe corporation\u2019s financial health is really bad. If things continue the way they are, the airlines will begin defaulting on payments and staff salaries,\u201d says an official associated with NAC\u2019s operations.<\/p>\n
\u2018Yet to Utilize Due Potential\u2019<\/strong>
\nThe official continues to say that Nepal Airlines\u2019 case is different from similar ones in other nations like India as \u201cthe new planes have not been utilized prudently and commercially\u201d.<\/p>\nNAC has reportedly failed to scope pilots in advance for the new aircraft following the traditional practice of getting planes first and then pilots.<\/p>\n
Besides, the Corporation still has nearly three planes waiting at the Tribhuvan International Airport for pilots.<\/p>\n
Above all, officials feel that was not appropriate to equip the airlines with the country\u2019s youngest fleet, inducting two Airbus A320 aircraft in 2015 and two additional wide-body A330 in 2018.<\/p>\n
\u201cDespite the pilot shortage, the corporation again started homework to procure two more A320neo jets for international route and six Viking Twin Otters for domestic operation,\u201d says a senior captain<\/span> at the corporation.<\/p><\/blockquote>\nAccording to Kharel, shortage of flight crew is stopping new planes from exhibiting their optimum potential.<\/p>\n
\u201cWe were also not able to expand our routes to Japan, South Korea and some European countries from where we would have generated good income,\u201d he adds.<\/p>\n","protected":false},"excerpt":{"rendered":"
Yes, you read it right! The national flag carrier informed this in a recent update, where…<\/span><\/p>\nRead more<\/a><\/div>\n<\/p>\n","protected":false},"author":761,"featured_media":13624,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7042,3],"tags":[10409,1372,10411,998,10410,4220,7110,1076,10408,98,2994],"yoast_head":"\n
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