Buddha Air, IFC sign loan agreement for new aircraft

Buddha Air, one of the leading private airlines in Nepal, on Tuesday signed a loan agreement with the International Finance Corporation (IFC) – World Bank Group to purchase one additional 72 seater ATR72-500 aircraft.

As per the agreement, IFC has agreed to provide US$ 6.9 million, said the airlines in a press statement.

Earlier in September 2008, the airline had taken a loan of US $ 10 million in September 2008 to purchase two ATR42s and for the construction of closed-door hangar. nepalnews.com