Myanmar's Deputy Minister of Transport and Communications, U Kyaw Myo, has confirmed the country's government is scouting for funds to pay off a CNY399 million yuan (USD60.1 million) loan, secured from China EXIM Bank, for three now inoperative MA-60s.
According to The Myanmar Times, U Kyaw Myo told a parliamentary hearing last week that while partial loan repayments have been made, the outstanding principal and interest payment amount is still in excess of CNY300 million. As such, though the national carrier will contribute to the repayments, the state will shoulder the burden, which is due for completion, in full, by 2029.
“The government has committed to taking responsibility for paying back the loan for the three MA-60 planes which are no longer in service,” he said.
Myanmar National Airlines, then Myanma Airways, took delivery of the three turboprops from Xian Aircraft Company in 2010. However, following a string of incidents, two of the aircraft, XY-AIP (msn 807) and XY-AIQ (msn 808), were withdrawn from service while a third, XY-AIO (msn 806), was mothballed in 2013 over concerns about its airworthiness.
MNA currently operates a fleet of nine ATR72-500s/-600s, four B737-800s, two E190s, and several Cessna (single turboprop) Grand Caravan 208Bs and Beech 1900Ds.
