History
The airline as Nepal's first private airline company and was established in 1992. In 2001 the airline had an ‘operational merge’ with two other local airlines - Shangri-La Air and Karnali Air. Plans were announced to add two medium size Boeing or Airbus aircraft by September 2002 extending to new regional destinations in South Asia and China. The Executive Chairman of Karnali Air, Captain Narayan Singh Pun took on the position of Executive Chairman and Managing Director of Necon Air.
Necon Air indefinitely suspended flights in 2003 due to financial difficulties. Along with debt to private commercial banks, the airline also owes Rs.20 million to the Civil Aviation Authority of Nepal for landing and ground charges and Rs.20 million to the Nepal Oil Corporation for fuel. The airline was also in dispute with Raytheon over leasing and financial arrangements for their Beech 1900 aircraft and Raytheon were seeking the grounding of the aircraft.
Read more about this topic: Necon Air
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