PIA fleet 9 planes may be grounded due economic crunch
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Due to Pakistan's precarious financial situation, international organizations have expressed significant distrust in the Pakistan International Airlines (PIA). This lack of confidence stems from the government's lack of attention, which has placed the airline in the midst of a severe financial crisis. The fear of four Boeing 777s and five Airbus 320 planes being grounded due to financial constraints has arisen as a consequence of the ongoing financial crisis.
Furthermore, the failure to implement the new restructuring plan by PIA has contributed to the international institutions' lack of trust. The lack of implementation of the plan puts the national airline in a challenging position not only in terms of revenue collection but also in meeting international obligations.
PIA is obligated to pay approximately $100 million in international dues, including immediate payments for leases, mandatory engine maintenance, various international obligations, and interest payments on loans.
The absence of funds has created difficulties for the national airline, not only in fulfilling its financial obligations but also in maintaining its operations and services. This financial crisis has placed PIA in a precarious situation, drawing international scrutiny and raising concerns about the future of Pakistan's flag carrier.
