Pakistan International Airlines continues to receive Government cash injections

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The Pakistan Government, as the majority shareholder of Pakistan International Airlines (PIA), continues to support the carrier it reports further losses. In 3Q2009, the government agreed to provide another equity contribution to PIA to cover interest payments on its significant debts. An amount of USD128.7 million has been provided to the carrier as at 30-Sep-2009, against 887 million ‘A’ class ordinary shares of PKR10 (USD0.12) issued to the government. Another 186 million ordinary shares are expected to be issued during the current year.

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