Airlift shuts down services in Pakistan after funding distress

Airlift shuts down

Airlift Pakistan has shut down its services in Pakistan due to a lack of funding amidst global economic crises. The employees were informed on Tuesday about Airlift’s decision of closing its operations from Wednesday.

‘’Multiple investors told the firm that it will take them at least two months to wire the money’’, Tech crunch stated, quoting the slides presented to the employees.

The start-up faced many hindrances due to COVID-19, which led it towards minimizing its operations only to groceries delivery. As a result, the global recession has completely halted Airlift’s services.

According to DealStreetAsia, Airlift had paused all services during Eid ul Adha, which typically sees a surge in demand for delivery services.

In addition to this, the company has also emptied its warehouses in Pakistan.

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