PIA reports recovery in flight operations after securing Rs17bn loan

The cash-strapped Pakistan International Airlines (PIA) reported a recovery in its flight operations on Sunday after managing to secure a Rs17 billion bank loan. The development comes after the national carrier reportedly grounded several aircraft as it struggles to secure funds to maintain its operations for the next few months. Some media reports had also claimed that the operations would be ceased by Sept 15, evoking a strong response from the airline’s management and lawmakers in the Senate. The Ministry of Aviation, while seeking a cash injection of Rs23 billion, has also informed the government that Boeing and Airbus — two of the leading commercial jet manufacturers — were on the verge of discontinuing spare parts’ supply by mid-September, according to reports. Earlier this week, PIA spokesperson Abdullah Hafeez Khan refuted reports of the flag carrier’s closure as baseless and said the flight operation was continuing. He added that the airline was also disbursing most urgent domestic and international payments.