PIA – Pakistan International Airlines (PK, Islamabad International) has refuted a media report of a PKR17 billion rupee (USD60.8 million) debt repayment default, calling it a misreporting of a balance sheet restructuring proposal that has been not be accepted by Pakistan’s Ministry of Finance.

Pakistan’s NetMag portal recently reported that PIA failed to make repayments to seven commercial banks earlier in December, including the National Bank of Pakistan (NBP), JS Bank Limited, Al Baraka Bank, Bank of Punjab, and Habib Bank…

Source: ch aviation
Read more: Pakistan's PIA denies report of Rs17bn debt default