PIA on the verge of BANKRUPTCY.
- News By : Web Desk
- 2023-09-17 12:10:49
PIA cancelled several international and domestic flights recently, after grounding five of its Airbus A320 jets because it did not have $100m to ‘immediately pay’ its creditors, many wondered how long taxpayers would have to continue to bail out the debt-ridden airline.
A TV channel quoted a PIA director as warning that the national carrier’s operations could be suspended if emergency funds weren’t provided to pay arrears to creditors, aircraft lessors, fuel suppliers, insurers, domestic and international airport operators and the IATA.
Interim Prime Minister Anwaarul Haq Kakar’s directions to the relevant authorities to fast-track PIA’s privatisation is an encouraging development.
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