June 27: The state-owned Nepal Airlines Corporation (NAC) is preparing to revise its 10-year Integrated Business Plan (2021-2030).
The national flag-carrier has decided to revise the business plan of strategic importance in line with its policy of strengthening its institutional structure and making its services efficient and prompt.
The company’s newly-appointed General Manager Dipuraj Juharchan said that NAC will review its business plan in view of the existing domestic airlines market and revise the plan accordingly. He shared that NAC will unveil its new website on the occasion of its 64th anniversary on July 1.
According to the 10-year business plan submitted to the government in December 2020, the NAC plans to purchase 6 new aircraft including 4 narrow-body aircraft and 2 wide-body aircraft for operating flights to eight new destinations including Sydney, Colombo, Shanghai, Indonesia and Riyad.
As per the business plan, NAC is expected to suffer losses in the first three years but is projected to start making profit from 2024. According to the estimates of NAC, it will make a profit of Rs 5.3 billion by 2030.
However, the new management of NAC has not revealed the details of changes it wants to make in the business plan.
NAC reportedly has 500 unnecessary employees. A former MD of NAC had blamed political interference, unnecessary recruitment of employees and weak legal framework as the key factors behind the dwindling financial status of the corporation.
Meanwhile, the NAC has taken a decision to table a proposal with the Board of Directors for an initiation regarding the proper management of the Chinese aircraft which are currently not in operation. The NAC management has also decided to take initiatives for rescheduling of the installments of the loans it is liable to pay to the Employees Provident Fund and the Citizen Investment Trust. The NAC has stated that coordination would be established with the Ministry of Finance, the Ministry of Tourism and the two funds for this purpose. (With inputs from RSS)