PIA paid 50 billion rupees in interest payments in 2022.
What did it earn from its two hotels in New York and Paris???
Might be a good idea to transfer the ownership of the two hotels to a group of local banks and get maximum loans paid off against the hotels.
How long is PIA going to pay interest on its loan???
Ten years ago PIA could have paid off loans and saved money and invested in a fleet, now thanks to poor management PIA cannot even pay off the loans of the airline with the sale of the two hotels.
PIA should transfer hotels to local banks against loans
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Amaad Lone
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PIA should transfer hotels to local banks against loans
P.I.A
God's International Airline
God's International Airline
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Karachi Aviator
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Re: PIA should transfer hotels to local banks against loans
Though I might be wrong, the government will have to do something in these upcoming months otherwise it's either do or die. IMF deal is yet to be unlocked. The pressure will most likely come from IMF. I don't expect the government or the PIA management to do anything on their own.
