ISLAMABAD - Pakistan International Airlines (PIA) has formally asked the Export-Import (EXIM) Bank of the United States to come for its recue by extending loan limits in its favour.

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

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