PIA facing acute shortage of airplane spares
The delay in the privatization of the national carrier has
resulted in the grounding of nine aircraft belonging to Pakistan International
Airlines (PIA), posing significant challenges and heightened pressure on
administrative functions.
According to reports, the grounding of these nine aircraft,
comprising five Airbus A320s, three Boeing 777s, and one ATR craft, is
attributed to a shortage of spare parts.
PIA
faces flight disruptions as five aircraft grounded
Reports further indicate an atmosphere of uncertainty surrounding
the future of the national airline, heavily reliant on the State Bank of
Pakistan (SBP). Leasing companies have reportedly raised concerns, citing
Pakistan's CCC rating in the context of business policies.
Additionally, leasing and spare parts companies are imposing a
risk exposure premium on payments. Earlier this month, Caretaker Prime Minister
Anwaarul Haq Kakar directed relevant officials to expedite the privatization
process of PIA.
Financial
crisis forces Pakistan's national carrier, PIA, to ground 11 aircraft
In a meeting with Aviation Adviser Air Marshal (retd) Farhat
Hussain, the prime minister emphasized the importance of ensuring transparency
in the privatization process. Kakar underscored the government's commitment to
prioritizing the privatization of state-owned enterprises as a crucial measure
to safeguard the national exchequer from further financial losses.
Source: Pro Pakistani