Pakistan International Airlines (PIA) is facing a severe financial crisis that has forced the grounding of several Boeing 777 aircraft due to a lack of funds for maintenance, according to reports by ARY News on Friday.
Sources indicate that the national flag carrier has had to ground four Boeing 777 planes, each requiring an estimated maintenance cost ranging from PKR 31 to PKR 40 million per aircraft. The airline’s financial woes have reached a critical point, with significant consequences for its operations.
The crisis has been exacerbated by a recent string of flight cancellations, with over 500 flights being scrapped in the past 11 days due to fuel unavailability. The predicament reached a breaking point when Pakistan State Oil (PSO) reduced fuel supply to PIA, citing unpaid dues. This reduction in fuel supply has led to the cancellation of 537 flights since October 13.
The situation worsened further on Thursday, as reports emerged that 49 domestic and international flights were canceled in various cities, including Karachi, Lahore, Islamabad, Quetta, Multan, and Peshawar, following PSO’s decision to cut off fuel supply to PIA.
In a bid to boost employee morale during these trying times, PIA’s Chief Executive Officer (CEO), Amir Hayat, penned an open letter serving as a motivational message to the airline’s staff. This message comes amid the backdrop of the ongoing financial crisis, flight operation closures, and the impending privatization process.
The future remains uncertain for PIA as it grapples with one of the most challenging crises in its history. The airline must navigate financial hurdles, unpaid dues, and operational disruptions to secure its future in the aviation industry.
Sources By Agencies
