Pakistan International Airlines (PIA) has paid the salaries of employees after securing a bank loan of Rs. 17 billion.
According to a report in Dawn, the administrative matters of the national flag carrier are also running smoothly after it managed to secure a bank loan.
Quoting PIA’s spokesperson, the report said that after securing the loan, the airline was able to pay salaries of employees and the flight operations are now running smoothly.
With the funds in place, the airline will also make payments to fuel companies and spare parts will be purchased for the repair and maintenance of the aircraft.
The report further highlighted that apart from the payment of salaries to employees, the payments of leased aircraft have also resumed.
PIA’s liabilities have hit Rs. 743 billion or $2.5 billion, which exceeds its total assets by five times, according to data compiled by Bloomberg.