Bank loans not to last for long, says PIA spokesman

RAWALPINDI: Financing that Pakistan International Airlines (PIA) has secured from commercial banks will not be sufficient for a long time, however there has been an improvement in flight operation of the national flag carrier.

Of the total amount secured from commercial banks by the airline, Rs1.5 billion was paid in salaries while the rest of the amount was paid for fulfilling its national and international obligations, including payment to fuel companies, spare parts of the aircraft and airport charges to the Kingdom of Saudi Arabia (KSA).

Spokesman for the national flag carrier Abdullah Hafeez Khan said PIA had secured a loan from commercial banks, but it would not be sufficient for a long time. “We will live on it,” he added.

He said PIA had released funds, fulfilled its national and international obligations, made payments to oil companies and for the purchase of spare parts for the aircraft.

In a press release, the spokesman said there had been an improvement in flight operations as 77 flights would be operated from airports across the country on Sunday.

Of the 77 flights, 25 flights will be operated on domestic routes while the remaining on international routes, the spokesman said, adding that the ratio of PIA flights that would operate as per the schedule today was 87pc.

Published in Dawn, September 18th, 2023