Managing Director, PIA Ejaz Haroon has stated that Pakistan International Airlines (PIA) has turned into a bankrupt institution. Talking to a private TV channel, he confessed that the institution had technically become 100 per cent bankrupt. 'PIA, as far as balance-sheet is concerned, is technically bankrupt, that is true, there is no denial to it, he said ,adding, the situation had not surfaced in year or two, rather the institution had been facing crisis since 2000. 'In 2000, PIA was facing bankruptcy like situation, but as a fact, the govt didnt want to close it, so the govt supported it on numerous occasions. He said that PIA suffered a loss of Rs 13 billion in 2001. He further said that as a result a handsome amount was injected by the govt which had reduced PIA losses in 2002, 2003 and 2004. He said that the govt had not been providing credible financial support since 2005, pushing the institution towards bankruptcy.