Kathmandu, Jan. 23 -- Nepal Airlines Corporation will retire its last Boeing 757 after doing an engine overhaul, technically known as C-check, as this can significantly affect the aircraft's resale value. The state-owned carrier also plans to auction off the Boeing's spare parts stock worth more than $3 million as it will have an all-Airbus fleet, according to company officials.

The national flag carrier had planned to put up its last Boeing for auction immediately after the arrival of the Airbus A330s on order, but it dropped the plan following allegations of financial irregularities in the purchase of the wide-body jets.

Once bitten, twice shy, Nepal Airlines decided to pass the buck to the Tourism Ministry, and let it make the decisi...