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PIA Severe At A Loss! | Dunya News

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KARACHI (Web Desk) - The Pakistan International Airlines (PIA) has “temporarily” grounded some of its planes, the airlines' spokesperson confirmed on Thursday.

He, however, claimed that the airline would be back in the air once payments were made.

A report published in Bloomberg on Wednesday quoted spokesperson Abdullah Khan as saying the airline had to cancel a number of domestic and international flights after grounding five of its Airbus A320 jets.

The report quoted him as further saying that PIA must pay at least $100 million immediately to about half a dozen leasing firms it has engaged for chartering aircraft, airport authorities, aircraft spares and others.

“PIA’s liabilities have increased to Rs743 billion or $2.5bn, which exceeds its total assets by five times, according to data compiled by Bloomberg,” the report said.
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