ISLAMABAD: The Pakistan International Airlines (PIA) has sought extending loan limits from the Export-Import (EXIM) Bank.
The PIA formally asked the American bank to come for its rescue by extending loan limits in its favour. A formal request for extension of loan limit by PIA was made during a meeting held in Karachi between Chief Operating Officer (COO) PIA Bernd Hildenbrand with Chairman and President of Exim Bank Fred Philip Hochberg.
Hildenbrand said that PIA management is taking various steps to increase airline’s revenue, reduce its losses and bring about efficiency in its systems. He informed the COO that Exim bank US would look into the possibility of providing finances for the leasing of additional aircraft for PIA’s fleet.
