PIA Secures Rs17 Billion Loan to Restore Operations After Cash Flow Crisis

PIA secured a Rs17 billion loan to help restore operations after facing cash flow issues
The loan enabled PIA to pay employee salaries and keep flights running smoothly
PIA can now pay fuel companies and purchase spare aircraft parts for repairs
The loan allowed PIA to release current month salaries and make payments on leased aircraft
The loan has helped PIA fulfill national and international obligations and stabilize operations

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Relevant topic timeline:

9/16/2023

PIA Seeks Bailout as Financial Woes Ground Planes, Executives Oppose Privatization Despite Mounting Debts

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9/17/2023

PIA Secures Rs17 Billion Loan to Resume Flights After Financial Troubles

Pakistan International Airlines (PIA) has reported a recovery in its flight operations after securing a Rs17 billion bank loan, alleviating concerns about the airline's potential closure due to financial struggles.

10/2/2023

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Posted 9/17/2023, 12:58:25 AM