PIA owes Rs429.267bn to govt, banks, NA told

ISLAMABAD: The details of Pakistan International Airlines’ outstanding debt to the government as well as banks have surfaced, revealing that its total dues amounted to Rs429.267 billion by September 30, 2023.

The aviation ministry has submitted these details to the National Assembly, indicating that PIA owes Rs268.2 billion to banks and Rs161.067 billion to the government of Pakistan, totaling Rs429.267 billion.

According to documents presented to the National Assembly, these loans were acquired by PIA to address cash flow constraints and facilitate the acquisition of aircraft, engines, and spares necessary for operational sustainability.