KARACHI: Pakistan International Airlines Corporation Limited (PIACL) has obtained $130 million from international market against receivable to be used for working capital requirements and improvement in passenger services.
In a notice to Pakistan Stock Exchange (PSX) on Monday, the management of PIA said it had arranged a financing facility of $130 million from international financial market secured against its receivables. The facility has been lead arranged by Credit Suisse and United Bank Limited.
The funds are provided by Credit Suisse Singapore, United Bank Limited Dubai and National Bank of Pakistan Bahrain.
The Agreement to this effect has recently signed in Dubai. The funds will be utilized by PIA towards its general working capital requirements and improvement in passenger services, the PIA said.
