Pakistan International Airlines reportedly on the verge of collapse

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  • cwoodward

    It is looking as though the end may be near for PIA.

    Two weeks ago they reduced the number of operational aircraft to 16 from 23 and seemingly they can no longer fly to any Gulf airports as they aircraft are being impounded due to fuel non-payment. 5 impounded aircraft last week were allowed to leave only on written assurance of the PIA, the official said, adding that IATA restored PIA services after an emergency payment of $3.5 million was made.
    Boeing and Airbus have also suspended spare parts supplies to the PIA over non-payment and PIA is now incurring daily losses worth millions of rupees due to severely limited flight operations.

    Seeming all flight operations are in danger of suspension by September 30th and the flag carrier had requested the government for immediate provision of funds a senior director reportedly told GEO TV. The insider said that PIA had requested the government for immediate provision Rs23 billion in emergency funds in order to keep the airline flying.

    This is not the first time that this has happened and presumably the government will again cough-up the needed funds

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