NAC records annual income of Rs 22.24 bc in FY 2022/23

Kathmandu: Nepal Airlines Corporation (NAC) has announced a notable financial achievement, reporting an annual income of Rs 22.24 billion in the fiscal year 2022/23. The corporation shared this information in an official statement released on Tuesday, highlighting a positive turnaround in its business operations.

The fiscal year 2022/23 marks a significant improvement for NAC, which experienced a decline in its business activities during the challenging period of the Covid-19 pandemic. The reported earnings reflect a commendable rebound as economic conditions gradually returned to normalcy.

During the height of the pandemic, NAC reported earnings of Rs 9.10 billion in the fiscal year 2020/21, followed by Rs 16.46 billion in the fiscal year 2021/22. The substantial increase in income in the most recent fiscal year underscores the resilience and adaptability of NAC in navigating the adverse effects of the global health crisis.

NAC, currently operating four aircraft for international flights, has strategically utilized its services to contribute to the corporation’s improved financial performance. The provision of ground handling services at all three international airports in Nepal has also played a significant role in augmenting NAC’s overall income.

The positive financial results for the fiscal year 2022/23 indicate a promising trajectory for Nepal Airlines Corporation, reflecting its ability to adapt to changing circumstances and capitalize on opportunities for growth in the aviation sector. Stakeholders and industry observers are optimistic about the continued recovery and expansion of NAC’s operations in the coming years.