The delay in the privatization process of Pakistan International Airlines (PIA) has resulted in the grounding of nine aircraft, putting significant pressure on the national carrier’s administrative affairs. Sources reveal that, out of the 31 planes in the fleet, nine are currently grounded due to a lack of spare parts.
The affected aircraft include five Airbus-320, three Boeing-777, and one ATR craft. The uncertain future of the national airline is further complicated by its reliance on the State Bank of Pakistan, with leasing companies expressing concerns over Pakistan’s CCC rating in terms of business policies. The other two airlines also came under operational pressure due to negative ratings and lack of foreign exchange reserves.
