World News | Pak: Financially Struggling PIA Forced to Ground Boeing 777 Aircraft
Get latest articles and stories on World at LatestLY. 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.
Karachi [Pakistan], October 27 (ANI): 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.
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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. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)