KARACHI: In a recent development, Pakistan International Airlines (PIA) has reportedly disbursed Rs400 million to the state-owned Pakistan State Oil (PSO), marking a significant step in financial recovery.
Following the restoration of its account by the Federal Board of Revenue (FBR), PIA made this fuel payment to PSO, ensuring the continuity of essential services.
The national flag carrier is obligated to settle a total of Rs1.5 billion to PSO to maintain its credit limit, with an additional Rs1.10 billion required to reach the stipulated credit threshold.
Earlier this month, PIA faced fuel supply disruptions at major airports in Saudi Arabia, namely Makkah and Madinah, leading to flight delays of three to four hours.
A PIA spokesperson acknowledged the temporary suspension, attributing it to delayed fund transfers to the oil companies’ accounts.
Swift payments have been made, and the spokesperson assured that normal fuel supply would resume promptly after the completion of financial transactions.
This financial hiccup comes on the heels of PIA’s previous challenges, where the airline suffered substantial losses in October due to a fuel crisis, resulting in the suspension of over 800 flights.
The recent payment and ongoing financial measures signify PIA’s commitment to overcoming these setbacks and ensuring operational stability.