Pakistan International Airlines cancels 537 flights in 11 days! Is it on the brink of closure?

Pakistan International Airlines (PIA) seems to be on the brink of closure, reported ANI quoting Pakistani news channel – ARY News. The airline has cancelled over 500 flights in the past 11 days to severe fuel shortage.

Why is there a fuel shortage?

The shortage stems from the fact that the Pakistan State Oil (PSO) has reduced its fuel supply due to unpaid debts which led to a cancellation of 537 flights since October 13.