PIA concludes financing facility of $130m

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Amanullah Khan

Karachi—The consortium consisting over Credit Suisse, UBL and NBP will provide a financing of $ 130 million to improve working capital of the airline.
Pakistan international Airlines (PIA) has concluded a financing facility of $130 millions lead arranged by United Bank limited Pakistan and Credit Suisse Singapore office. The agreement to this affect was recently signed in Dubai.
The Lenders include Credit Suisse, United Bank limited and National Bank of Pakistan. The facility reflects the confidence and trust of the international financing institutions on the operations of PIA and will be utilised by it for its general working capital requirements and improvement in passenger services.