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Pakistan

PIA concludes financing facility of $130mn

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By Parvez Jabri
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imageKARACHI: The Pakistan international Airlines (PIA) has concluded a financing facility of USD 130 millions lead arranged by United Bank limited and Credit Suisse Singapore office.

A spokesman of the national flag carrier said here on Thursday that the agreement to this affect was recently signed in Dubai.

The lenders include Credit Suisse, United Bank limited and National Bank of Pakistan.

The facility reflects the confidence and trust of the international financing institutions on the operations of PIA and will be utilised by PIA for its general working capital requirements and improvement in passenger services, the spokesman added.

Copyright APP (Associated Press of Pakistan), 2016

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