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Nepal Airlines to conduct first audit in six decades
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Kathmandu, March 14 -- Beset by financial stress and prompted by government plans to bring a strategic partner, Nepal Airlines Corporation is preparing to conduct a financial audit for the first time in more than six decades. The national flag carrier on Sunday invited proposals from consultants to prepare a due diligence audit with the final submission deadline set for April 9.
The corporation said the objective of the audit, that will assess the market value of its assets and liabilities up to mid-January 2019, was for the purpose of capital restructuring.
Last year, the corporation sought Rs20 billion from the government through the Tourism Ministry to raise its paid-up capital to support its financial restructuring. The Finance Mini...
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