PIA Pakistan International Airlines continues to face liquidity crisis, cancels several flights
Facing severe cash flow problems, Pakistan International Airlines (PIA) has cancelled several domestic and international flights, media reports said.
A top official of Pakistan's national flag carrier earlier told Geo News that flight operations are feared to be suspended by September 15 if emergency funds are not provided.
On August 12, a number of domestic flights to and from Karachi were cancelled due to a shortage of funds and the failure to pay Pakistan State Oil (PSO) for fuel supply.
According to the Jinnah International Airport schedule today, PIA flights from Karachi to Bahawalpur (PK588 and PK589) and Karachi to Lahore (PK302 and PK303) have been called off.
Karachi to Islamabad flight (PK368) has been delayed for three hours while Karachi to Lahore (PK304) is delayed by eight-and-a-half hours.
PIA flights to and from Karachi and Rahim Yar Khan (PK582 and PK583) were cancelled while Karachi to Multan (PK330) and Dubai (PK213) were delayed by two hours, reports Geo News.
Other than that, the flight from Islamabad to Karachi (PK301) is cancelled, Islamabad to Riyadh (PK753) is delayed by three hours and Lahore to Karachi (PK305) is delayed by two-and-a-half hours.
The PIA on September 7 announced it was grounding five out of its 13 leased aircraft with further prospect of grounding four additional planes due to the prevailing financial crunch.
The PIA had asked for an emergency bailout of Rs22.9 billion which was rejected by the Economic Coordination Committee (ECC).
The ECC also rejected the request for deferment of the payments of Rs1.3 billion per month, which PIA pays to FBR against FED and Rs0.7 billion per month which PIA pays to the Civil Aviation Authority (CAA) against embarking charges, reports Geo News.
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