March 17, 2023
1 min read

‘Aviation crisis’ looms in Pakistan

Pakistan Civil Aviation Authority (PCAA) has said it was trying to pay the airlines on time…reports Asian Lite News

The global air transport body has warned of an “aviation crisis” in Pakistan as airlines are struggling to recover $290 million due to a severe financial crisis.

Pakistan Civil Aviation Authority (PCAA) has said it was trying to pay the airlines on time and has been in contact with relevant authorities over the issue, Dawn reported.

The Financial Times, while quoting the International Air Transport Association (IATA) said it has become “very challenging” for carriers to serve Pakistan as they struggle to repatriate their dues which are paid in dollars.

The IATA, which represents some 300 airlines comprising 83 per cent of global air traffic, said $290m were stuck in Pakistan as of January up by almost a third since December, Dawn reported.

“Airlines are facing long delays before they are able to repatriate their funds,” Philip Goh, the IATA’s Asia-Pacific head, was quoted as saying by FT.

“Some airlines still have funds stuck in Pakistan from sales in 2022. If conditions persist that make the economics of operation to a country unsustainable, one would expect airlines to put their valued aircraft assets to better use elsewhere,” Goh added.

The FT citing data from an aviation analytics company Cirium, shared that foreign airlines have been reluctant to return to Pakistan, with fewer total flights scheduled for March 2023 than the same month in 2019.

“If you can’t take money out of a country, then there’s no point in you even going there,” said Mark Martin, chief executive of aviation consultancy Martin Consulting, in the FT report.

ALSO READ: Chinese bank to refinance $500 mn loan for Pakistan

Previous Story

UK govt to invest £900m to build own ‘BritGPT’

Next Story

Black Sea grain deal to get 120-day extension

Latest from -Top News

EAM Jaishankar Heads to China for SCO meeting

This will be the External Affairs Minister’s first visit to China since ties soured after the Galwan clash in June 2020, though he has met his Chinese counterpart at multilateral events…reports Asian

Is Bangladesh cosying up to Beijing and Islamabad?

The Kunming gathering appears to mark the beginning of a dangerous geopolitical maneuver. Behind the diplomatic curtain, efforts to forge a strategic bloc seem to be underway—one that not only threatens regional

UAE rolls out red carpet for Indian start-ups

MoU signed with IIT Bombay’s SINE as CEPA Start-up Series aims to accelerate market access for Indian ventures In a bid to bolster cross-border entrepreneurship and innovation, the UAE-India CEPA Council (UICC),

Fuel switch mystery in Air India horror crash

Cockpit voice recordings, fuel switch anomalies and a possible overlooked advisory emerge in early findings The preliminary investigation into the crash of Air India flight AI171, which went down shortly after take-off

‘Kill and Dump’ Haunts Balochistan Again

The latest killings have reignited accusations of extrajudicial executions and the use of counterterrorism laws to cover up custodial deaths in Balochistan….reports Asian Lite News Concerns have deepened across Balochistan following the
Go toTop

Don't Miss

Killing of TTP top guns shows rift over truce talks with Pakistan

While no group has claimed responsibility for the separate deadly

Pak PM advisor admits use of drones in cross border drug smuggling

He demanded a special package for the rehabilitation of the