In a significant development, it has been revealed that Pakistan International Airlines (PIA) has incurred massive financial losses due to the prolonged grounding of its aircraft. According to a report by the Auditor General of Pakistan, the national carrier suffered losses exceeding PKR 60 billion over two years.
The report highlights that in 2022 alone, PIA experienced losses of over PKR 21.81 billion due to extended maintenance and grounding of aircraft. In 2021, the estimated loss due to the grounding of planes was more than PKR 8 billion. The Auditor General reviewed the matter in September 2023, and it was subsequently discussed in the Public Accounts Committee in January 2024.
PIA management attributed these delays to financial constraints that hindered timely repairs and maintenance. The Auditor General has requested a detailed report on the financial limitations faced by PIA.
The situation underscores the financial challenges faced by the national airline, raising concerns about its future operations and sustainability.
