KARACHI – Pakistan International Airlines (PIA), facing a severe financial crisis, has taken the drastic step of canceling around 300 flights in the past two weeks. This decision has resulted in substantial financial losses for the beleaguered national airline, estimated at roughly 400 million rupees per day.
The ripple effect of these losses has sent shockwaves through the airline industry, leading to concerns about PIA’s future.
To tackle this dire situation, informed sources have proposed an interim solution. By allocating 200 million rupees daily to Pakistan State Oil (PSO), it is believed that PIA could potentially achieve a full restoration of its flight operations.
Currently, PIA is grappling with a situation in which only 50% of its flight operations are operational, severely affecting the airline’s capabilities.
Read more:PIA Cancels More Flights Due to Fuel Shortage
The continued non-resumption of PIA’s flight operations has taken a substantial toll on the national carrier, resulting in losses amounting to billions of rupees over the past two weeks.
In a contrasting scenario, private airlines operating in the region are reportedly capitalizing on the disruption in PIA’s operations, reaping significant profits as a result.
The situation raises concerns about the financial stability and future prospects of PIA, an airline with a storied history in Pakistan’s aviation industry. Amid these challenges, the airline is exploring avenues to address its financial woes and restore its operations to full capacity.
