Posts tagged as: PIA crisis

PIA sinks further; losses exceed Rs. 100 billion

National flag carrier of the country, Pakistan International Airlines (PIA), keeps bleeding heavy losses for the current fiscal year. The accumulative losses for the company have reached a staggering Rs. 100 billion as the airlines keeps sinking towards a point of no return. In a meeting of the National Assembly Standing Committee on Defence, held […]

Government turns down PIA’s bailout package

The government of Pakistan has rejected the bailout package worth Rs. 20 billion requested by the Pakistan International Airlines (PIA) to help out the national carrier from its financial crisis. Amidst severe financial crisis, a bailout package was asked by PIA last month, which was eventually turned down on Thursday, on the basis that the […]

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