The outbreak of the novel coronavirus has brought the world’s economy on the verge of collapse. Almost every business sector and industry has felt the jolt, but the aviation industry has been the worst hit.
As per inside sources, Pakistan International Airlines (PIA) and the Civil Aviation Authority (CAA) have collectively reported losses worth more than Rs. 19 billion in the past one and a half months.
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The national flag carrier reported losses of Rs. 12.5 billion since the closure of domestic and international flight operations. The aviation authority has also incurred losses worth Rs. 6.9 billion during the said period, as international airline operations were also suspended.
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The aviation sector reported losses of 9.55 billion rupees in March, while the losses during the first two months of April are more than 10 billion rupees, sources said.