Kathmandu, Aug. 15 -- Prime Minister Balendra Shah recently highlighted what he called encouraging signs of recovery at the national flag carrier, Nepal Airlines Corporation.

In a social media post, Shah said the airline had generated Rs6.27 billion in revenue in just four months, achieved an 86 percent occupancy rate and repaid Rs1.06 billion in loan instalments.

But the airline's own preliminary annual figures paint a not-so-rosy picture.

Nepal Airlines (NAC) estimates that it generated around Rs23.40 billion in revenue in the last fiscal year, while its gross expenses may reach Rs24.40 billion. That would leave the airline with a deficit of about Rs1 billion for the year, despite the increase in revenue.

The corporation has yet to ...