Pakistan International Airlines in extreme financial crisis

The Pakistan International Airlines (PIA) is in deep waters as it risks grounding 15 planes amid a significant financial crisis due to growing dues owed by the national carrier.

According to reports, PIA has to clear dues worth up to Rs20 billion. Any delay in timely payment of the dues pertaining to fuel, federal excise duty (FED) and lease payments, might lead to 15 planes being grounded.

More than 30 national flights will be suspended if the planes are grounded.

Meanwhile — commenting on the dire situation — the Ministry of Aviation said that overhauling the PIA is a “complicated” process and will take a year. However, during this time it is imperative to keep the national career operational.