Pakistan International Airlines (PIA) is gradually recovering from a recent fuel crisis that led to the suspension of over 800 flights and a substantial estimated loss of Rs10 billion. The situation caused significant disruption and financial strain for the national flag carrier. However, there are now signs of improvement.
PIA has reported that it has restored approximately 90 percent of its flight operations following the replenishment of fuel supply from Pakistan State Oil (PSO). To accommodate travelers, the airline is also operating smaller aircraft. This is a positive development, as it indicates the airline’s commitment to getting back on track and providing essential air services.
Amid the crisis, there have been calls for accountability within PIA. Safdar Anjum, the Secretary General of Pakistan International Airlines Senior Staff Association, has held the current management responsible for the financial setback the airline faced during the crisis. He has specifically urged the dismissal of the current CEO, CFO, and director of engineering.
To address the financial challenges, the Economic Coordination Committee (ECC) of the Cabinet has approved a bridge financing package of Rs. 8 billion for PIA. This financial support will be sourced from the Civil Aviation Authority’s (CAA) reserves, and it aims to fulfill PIA’s urgent payment obligations. This financial aid is a crucial step to stabilize the airline’s operations and ensure that it continues to provide essential air travel services to the public.
In summary, PIA is on the path to recovery, with most of its flights restored, and the government’s intervention through the ECC’s financing package should help mitigate the financial impact of the recent crisis and support the airline’s future operations.
