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‘PIA is technically bankrupt’: Managing Director PIA - Naveed Yaseen - 08-04-2009 05:00 AM
LAHORE: The Pakistan International Airlines (PIA) has “technically gone bankrupt”, PIA Managing Director Captain Ijaz Haroon said on Monday.
Talking to a private TV channel, Haroon said no one had bothered to inquire about PIA’s affairs for the past many years and now there was nothing that he could do to improve the worsening situation. He rejected allegations that the airline had recruited 6,000 employees despite suffering severe losses, saying that these employees had been working for PIA for the last 10 years. The PIA is spending Rs 11 billion on the maintenance of its aircraft, Haroon said. The national carrier does not have any money and owes a huge sum of money to the Pakistan State Oil for fuel for its aircraft, he added. daily times monitor
http://www.dailytimes.com.pk/default.asp?page=2009\08\04\story_4-8-2009_pg7_33