Financial Turbulence Forces PIA to Ground Aircraft Temporarily

KARACHI: Pakistan International Airlines (PIA) has announced a temporary suspension of several of its aircraft, with the assurance that they will return to service once outstanding payments are settled. This decision comes after recent reports revealed PIA’s challenges in securing the necessary funds to sustain its operations in the coming months.

The Ministry of Aviation had issued a stern warning just last week, alerting the federal government to PIA’s severe cash flow crisis. This crisis has resulted in overdue payments to various parties, including creditors, aircraft lessors, fuel suppliers, insurers, international and domestic airport operators, and even the International Air Transport Association (IATA).

In response to these financial constraints, PIA has temporarily grounded a number of its aircraft. The airline remains committed to resolving its outstanding financial obligations promptly, with the expectation that these grounded planes will return to the skies once the necessary payments are made. This measure is seen as a necessary step to navigate through the current financial challenges and ensure the long-term sustainability of the airline’s operations.

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