Read Govt to go for expeditious PIA sell-offWithout debt restructuring, PIA has identified a need of Rs13 billion per month to make the debt repayments on time and meet other expenses. He said that the commercial banks were not forthcoming to the proposal of debt restructuring but the discussions have taken place. The sources said that the PIA management was of the view that the airline cannot be financially viable without debt restructuring. PIA needs Rs3.1 billion per month to service the external Rs109 billion debt and Rs7.5 billion to the domestic debt. They said that the PIA management was now going to various quarters to seek support for a bailout.

Source: The Express Tribune September 19, 2023 21:00 UTC