PIA urges EXIM Bank to inject loan


The Pakistan International Airlines (PIA) has formally asked the Export-Import (EXIM) Bank of the United States to extend the airline’s loan limit.

A formal request for extension of loan limit by PIA was made on Wednesday during a meeting held in Karachi between PIA Chief Operating Officer (COO) Bernd Hildenbrand with Exim Bank Chairman and President Fred Philip Hochberg.

Hildenbrand said the PIA management is taking various steps to increase the airline’s revenue, reduce its losses and bring about efficiency in its systems.

Hochberg 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.