RAWALPINDI: 322 PIA Flights Canceled in 10 Days: Crisis Looming over the National Airlines of Pakistan.
Pakistan International Airlines (PIA) is teetering on the brink of collapse, having canceled over 300 flights in the past 10 days due to a severe fuel shortage and financial turmoil, according to a spokesperson for the national carrier.
This crisis has plunged PIA into arguably the worst situation in its history, as Pakistan State Oil (PSO) cut off fuel supplies due to unpaid dues.
As a result, 322 flights, including 134 on international routes, have been canceled since October 14.
Read More: What is eVTOL?
On Tuesday alone, 51 flights were canceled, with 27 on domestic routes, leaving thousands of passengers stranded and in distress.
PIA management has been unable to provide them with a tentative departure time, leaving them to search for available seats on other airlines.
Decades of mismanagement and economic instability have taken a severe toll on Pakistan’s economy, and this year, Islamabad was compelled to seek another bailout from the International Monetary Fund (IMF) to avoid default.
The interim government has unveiled plans to privatize the airline as part of a broader strategy to privatize state-run companies.
Reports from Bloomberg suggest that PIA’s liabilities stand at 743 billion rupees (around $2.5 billion), a figure that exceeds its total assets by a substantial margin.
PIA, founded in 1955 when the government nationalized a loss-making commercial airline, initially enjoyed rapid growth but has faced severe challenges since the 1990s.
The liberalization of the market and the emergence of various private and public airlines created fierce competition, leading to years of financial losses.
Moreover, the airline’s reputation has been marred by a series of strikes, hijackings, and accidents, including a tragic Airbus crash in Karachi in May 2020, which claimed the lives of 97 passengers and crew members.
Read More: Fujian Aircraft Carrier
As PIA grapples with this crisis, its future remains uncertain, and passengers continue to bear the brunt of the airline’s ongoing turmoil.
Note: The information above might not be 100% correct. Please verify from your own sources.
For more news, please visit Munafa Marketing.