Things have settled between the national flag carrier and Pakistan State Oil (PSO). PSO has finally resumed fuel supply to PIA which was stopped due to the non-payment of dues.
It was the second time that the oil company stopped fuel supply in a space of a few months. Last year in November, PSO put a halt to the fuel supply after PIA failed to pay the amount it owed to the oil company.
PSO said that the airline owes them Rs 15.2 billion and it had failed to make daily payments for the last seven days. A PIA flight to Islamabad, scheduled to take off at 5 pm yesterday, was delayed because the plane didn’t have enough fuel to make the trip.
More flights could’ve faced a similar issue, however, things got back to normal when PSO resumed the supply.
The story of PIA’s downfall is not new. Once regarded as one of the best airlines in the world, PIA gradually slipped from the top and is now finding it hard to even fund its own operations. According to a recent report, the airline has suffered a huge loss of Rs 260 billion since 2009.
The flag carrier recently announced to revamp its brand identity at a staggering cost of $1.5 million per plane. The plan includes replacing the national flag logo on the PIA fleet with the Markhor logo.
Let’s see how much it helps PIA in gaining a firm foothold in the air transit business once again.