PIA seeks additional $157.1 million from Pakistani government

Pakistan International Airlines has requested additional funds worth $157.1 million from Pakistani government for payment of interests and covering operational costs. The break-up of the amount stands as follows – $76.8 million to meet interests on existing loans, $54.5 million for sovereign guarantees to facilitate more loans as the existing guarantee of $870 million is already exhausted and $24.4 million to acquire new aircraft. As per local media reports, the request was made to the Finance Minister of Pakistan Ishaq Dar on April 6. The minister has asked the airline management to present a business plan before any further funding.