Pakistan International Airlines (PIA) is grappling with a dire financial crisis, resulting to grounding of several Boeing 777 aircraft due to insufficient funds for maintenance, as reported by ARY News on Friday.
According to sources, the national flag carrier has grounded four Boeing 777 planes, with an estimated maintenance cost of PKR 31 to PKR 40 million per aircraft.
"PKR 31 to 40 million is required for the maintenance of grounded Boeing 777 aircraft," ARY News reported, citing sources.
PIA has been grappling with a critical situation, as it had to cancel over 500 flights in the past 11 days due to fuel unavailability. The crisis escalated when Pakistan State Oil (PSO) reduced fuel supply to the airline due to unpaid dues, which has led to the cancellation of 537 flights since October 13.
The national flag carrier is facing arguably its worst crisis in history as Pakistan State Oil (PSO) has cut the fuel supply over unpaid dues.
The situation became even worst on Thursday as 49 domestic and international flights were cancelled from cities like Karachi, Lahore, Islamabad, Quetta, Multan, and Peshawar after PSO slashed its fuel supply to PIA, ARY News reported, citing sources.
Meanwhile, Pakistan International Airlines (PIA) Chief Executive Officer (CEO) Amir Hayat has written a 'motivation letter' to the employees ahead of the privatisation.
Amidst these challenges, PIA's Chief Executive Officer (CEO), Amir Hayat, penned an open letter to motivate the employees during this financial crisis, flight operation closures, and the ongoing privatisation process, ARY News reported.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
