Karachi; In Pakistan, which is facing the biggest economic crisis in its history, on one hand people are suffering from inflation, on the other hand people are also facing problems for air travel. Actually, Pakistan International Airlines (PIA) is on the verge of closure. The main reason for this is the outstanding dues of Pakistan State Oil (PSO) on the airline. Due to non-payment, flights are not able to operate due to stoppage of fuel supply. Since October 14, more than 300 flights have been cancelled.
According to the report, Pakistan International Airlines (PIA) has canceled more than 300 of its flights in just 10 days after October 14, 2023. These flights had to be canceled due to fuel shortage in Pakistan, which is facing economic crisis. The fear has also been expressed in the report that if such conditions continue then PIA may be closed again. It said that out of the 322 flights that were canceled due to Pakistan State Oil not paying its dues, 134 were international flights. This data of flight cancellations is after October 14.
On one hand, due to the bad condition of Pakistani economy and on the other hand, large scale cancellation of flights, air passengers are facing a lot of trouble. Quoting a spokesperson of Pakistan International Airlines, the report said that in this time of crisis, the airline management is trying to get the passengers to travel through alternative flights.
Huge debt is a major reason for the bad condition of Pakistan International Airlines. According to a report in the month of September, the total liabilities on PIA have increased to 743 billion Pakistani rupees or 2.5 billion dollars. This debt figure is five times more than the total assets of the airline. On one hand, Pakistan’s economy is trying to recover on the basis of the bailout package received from the International Monetary Fund (IMF), while on the other hand, despite purchasing expensive air tickets with the loan of PIA, passengers are not able to reach their destination.
However, the financial condition of Pakistan International Airlines has been deteriorating for a long time. This has become worse due to the economic crisis in Pakistan that has been going on since last year. Preparations were also made to privatize the debt-trapped airline, but it did not reach its conclusion. Pakistan’s caretaker Prime Minister Anwarul Haq Kakkar had already directed the concerned authorities to expedite the process of privatization of PIA as the airline is facing financial crisis.
