Financial crisis looms over Pakistan International Airlines

(Credit : Samaa English)

Islamabad (Pakistan) – Pakistan International Airlines (PIA) is grappling with a severe financial crisis, with the airline now revealing plans to augment its fleet by leasing a Boeing 777 aircraft, thereby increasing its total fleet size to 11 planes. This predicament stems from the escalating value of the US dollar coupled with surging petrol prices. Presently, PIA remains burdened by a staggering debt of 742 crore that it is yet to repay.

पाकिस्तान की नकदी की तंगी से जूझ रही सरकारी एअरलाइन ने पुर्जों को बदलने के लिए पैसा ना होने की वजह से अपने तीन बोइंग 777 सहित 11 विमानों को सेवा से बाहर कर दिया है। पाकिस्तान इंटरनेशनल एयरलाइंस (पीआईए) के एक अधिकारी ने कहा कि शीर्ष प्रबंधन ने पिछले तीन वर्ष में 11 विमानों को… pic.twitter.com/8iPdJEGAzP

— Punjab Kesari (@punjabkesari) August 23, 2023

Over the past three years, the airline has been hindered from procuring essential airplane components, compelling the formulation of a plan to outline the acquisition of 11 aircraft.

Editorial viewpoint

The situation in Pakistan appears to be worsening, and the day when it could potentially face a declaration of bankruptcy might not be too far off.