Woes continue with the Pakistan's flag bearer, as Pakistan International Airlines (PIA) has grounded 11 of its aircraft amid scarcity of funds to get them repaired or make them serviceable.
The south asian carrier, which operates a mixed fleet of around 30 aircraft including Boeing 777s , Airbus 320s and ATR42s, has been going through a financial crisis to maintain the fleet due difficulties in procuring spare parts, that has resulted in the grounding of 11 aircraft.
Sources suggest that the rampant appreciation of the US dollar against pakistani rupee (PKR) and rising petroleum prices have made the situation worst for the PIA as it has been unable to buy spare parts for three years due to lack of funds.
Not only spare parts , many a time , PIA has been in emabarrasing situation of aircraft being inpounded. In the month of may 2023, a Boeing 777-2Q8(ER) aircraft (AP-BMH) that was seized by the Malaysian authorities over the unpaid lease dues of $4 million, and it was for the second time, after being impounded in Jan 2021 over unpaid lease dues to to Irish aircraft lessor Peregrine Aviation Charlie Ltd. .
Very recently , after the airports , the Pakistan government wanted to privatise its national carrier, which is turning out to be the country’s top loss-making entity.
The cash-strapped Shehbaz Sharif government had also questioned Pakistan International Airlines Corporation’s demand for $40 million per annum so that it can continue operations.
The carrier and its assets will be added to the list of “active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the parliament,” said the committee in a statement.
The grounded planes included three Boeing 777 aircraft – two of them were stopped from flying in 2020 and another grounded in 2021. Five A320 planes, three ATR aircraft were also grounded by the national carrier.
A spokesman for PIA confirmed the development to a local media outlet stating that 11 aircraft have been grounded due to a lack of funds.
As the PIA is running in losses, the outgoing government had decided to privatize it, a decision that drew criticism from an employees association of the national carrier.
Last week, the People’s Unity of Pakistan International Airlines (PIA) called a countrywide token strike against the planned privatisation of the national carrier.
PIA CBA consortium President Hidayatullah has warned the PIA administration and government against the privatisation of the national carrier, saying the union would take important decisions on Friday if demands are not met.
Earlier this month, the Cabinet Committee of Privatisation, in a meeting chaired by former finance minister Ishaq Dar, decided to privatise its loss-making national carrier.
The committee “after deliberation decided to include Pakistan International Airlines Co. Ltd in the list of active privatisation projects of the ongoing privatisation programme, following an amendment in the law by the Parliament,” a finance ministry statement said.
Source : The Dawn
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