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Pakistan International Airlines bailout package on the anvil

Islamabad - The Aviation Division had initially demanded Rs26 billion to repay old debts and meet working capital requirements.

The government is finalising another bailout package for Pakistan International Airlines in a bid to help the ailing national flag carrier meet its debt obligations and keep it flying for at least four months.
The finance ministry and the Aviation Division are working out modalities of a Rs24 billion package which will be presented to the Economic Coordination Committee (ECC) of the Cabinet in the coming days, Express Tribune reported on Sunday quoting unnamed officials as saying.
Once approved by the ECC, the bailout will be the second such package for the national airline in the last four months and fifth in the last three and a half years.
The Aviation Division had initially demanded Rs26 billion to repay old debts and meet working capital requirements. The final amount is expected to be around Rs24 billion.
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