NAC submit ten year business plan to the Minister, 5.30 billion profit projection

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NAC submit ten year business plan to the Minister, 5.30 billion profit projection

December16,katmandu.Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai has directed the leadership of Nepal Airlines Corporation (NAC)  to strictly adhere to good governance and leakage control. Understanding the 10-year integrated business plan report prepared by the NAC on Monday, Minister Bhattarai said that the government with good governance and leakage control would provide concessions to the NAC as it is the national flag  carrier.

Stating that the 10-year integrated business plan has paved the way for the NAC to proceed ahead, he said that the NAC, which is currently at a loss, should be made commercially successful without turning left or right.

General Manager of the NAC,Dim Prakash Poudel briefed  about the business plan from 2021 to 2030. According to the plan, the NAC will be at a loss for the first three years, but it is projected to make a profit in 2024 and a profit of Rs 5 billion 3o crore in 2030. Going forward, according to the action plan, it is projected to cost Rs 23 billion 76 crore annually in 2021 and increase by 9 percent every year.

According to the plan, 8 new destinations including Sydney, Colombo, Shanghai, Indonesia and Riyadh will have to be added for international flights from 2024 to make profit.It is stated that 6 aircraft including 4 narrow bodies and 2 wide bodies are required for the service.

Similarly, for the improvement of domestic flights, Kathmandu, Nepalgunj, Pokhara and Biratnagar should be made the main base of hilly flights, the report said.

Poudel said that the business plan has been prepared based on the 15th Five Year Plan of the Government of Nepal, Government Policies and Programs, Aviation Policy 2063, report of the Ministry of Culture, Tourism and Civil Aviation, recommendations of the Reform Suggestions Committee and review of business plans prepared in the past.

In the plan report, the financial condition of the NAC, market analysis, the impact of COVID-19 on the NAC, and the expectations from the government of Nepal have been mentioned in detail.

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