Latest news with #KhawajaMohammadAsif
India.com
a day ago
- Business
- India.com
Rs 12400000000: Bankrupt Pakistan lose huge amount of money after war with India due to....
Pakistan PM Shehbaz Sharif The Pakistan Airports Authority (PAA) lost Rs 1,240 crore (PKR 4.1 billion) in a little over two months due to a ban on Indian-registered planes over its airspace, the Ministry of Defence told the National Assembly on Friday, reported Dawn. The ministry clarified that the revenue shortfall, covering the period from April 24 to June 30, was due to a decline in overflight fees and was less than the previously reported Rs8.5 billion. This closure of airspace took place after India's unilateral suspension of the Indus Waters treaty on April 23. What caused Pakistan to lose Rs 12,400 crore in just 60 days? The bordering country closed its airspace over India's suspension of the Indus Waters Treaty, a week after the terrorist attack in Pahalgam, Jammu and Kashmir, that killed 26 people, primarily tourists, on April 22. According to the report, Pakistan Defence Minister Khawaja Mohammad Asif said the ban, which took effect on April 24, has resulted in Pakistan losing substantial overlying revenue. Pakistan has rescinded flight permissions for all Indian-registered aircraft, whether operated, owned, or leased by Indian carriers. Why did Pakistan shut its airspace to Indian aircraft? Consequently, the Pakistan Airports Authority's revenue from overflight charges dropped during the period from April 24 to June 30, as this impacted between 100-150 Indian aircraft daily and reduced transit air traffic into/from Pakistan by nearly 20 percent, according to Dawn. Pakistan has extended its closure of airspace until August 24, 2023, to Indian aircraft. A NOTAM issued by PAA reads, 'The ban will now remain in place until 4.59 am on August 24. Pakistani airspace not available for Indian-registered aircraft and aircraft operated, owned, or leased by Indian airlines/operators, including military flights.'
Hans India
a day ago
- Business
- Hans India
Pakistan Bleeds Rs 1,240 Crore As Airspace Ban On Indian Flights Backfires
Pakistan's decision to prohibit Indian aircraft from using its airspace has resulted in catastrophic financial consequences, with the Pakistan Airports Authority hemorrhaging more than Rs 1,240 crore (PKR 4.1 billion) within just two months of implementing the restrictive measure. The Dawn newspaper reported these staggering losses based on an official statement from Pakistan's Defence Ministry, highlighting the severe economic impact of the aviation standoff. The airspace closure was implemented as Pakistan's retaliation against India's decision to suspend the Indus Waters Treaty following the devastating April 22 terrorist assault in Pahalgam, Jammu and Kashmir, which claimed the lives of 26 innocent people, predominantly tourists. The ban took effect on April 24 and has continued to inflict substantial economic damage on Pakistan's aviation sector. Defence Minister Khawaja Mohammad Asif officially acknowledged the massive revenue losses from overflight charges during the period between April 24 and June 30. The prohibition affects all aircraft bearing Indian registration, including those operated, owned, or leased by Indian aviation companies and carriers. This comprehensive ban has created a significant disruption in regional aviation traffic patterns. The economic ramifications have been particularly severe for Pakistan's airport authority, with daily operations seeing the loss of between 100 to 150 Indian aircraft that would normally transit through Pakistani airspace. This dramatic reduction has slashed Pakistan's overall transit air traffic by approximately 20 percent, representing a substantial blow to the country's aviation revenue streams. Pakistan has chosen to extend this economically damaging restriction until August 24, 2025, despite the mounting financial losses. A Notice to Airmen (NOTAM) issued by the Pakistan Airports Authority confirms that the prohibition will remain active until 4:59 AM on August 24, specifically targeting Indian-registered aircraft and those operated, owned, or leased by Indian airlines and operators, including military flights. The aviation restrictions have created an asymmetrical impact on both nations' carriers. While Pakistani airlines continue to face reciprocal bans from Indian airspace, Indian carriers have successfully adapted by utilizing alternative international routes for their global operations, minimizing the operational impact on their business. The Indian Civil Aviation Minister of State has confirmed that India's corresponding NOTAM will remain effective until August 23, 2025. The Pahalgam terrorist incident that triggered this aviation standoff was orchestrated by The Resistance Front, a subsidiary organization of the Pakistan-based terror group Lashkar-e-Taiba. The brutal attack resulted in 26 civilian casualties and prompted India to launch comprehensive retaliatory measures beyond just the Indus Waters Treaty suspension. India's response included the execution of Operation Sindoor, a precisely targeted military campaign that struck key terrorist infrastructure and training facilities located in Pakistan and Pakistan-Occupied Kashmir. This multi-pronged approach demonstrated India's commitment to combating cross-border terrorism through diplomatic, economic, and military channels. The current aviation impasse represents a classic example of how diplomatic tensions can escalate into economically damaging trade wars, with Pakistan bearing the brunt of the financial consequences. The country's decision to maintain the airspace ban despite mounting losses suggests that political considerations are taking precedence over economic pragmatism. Aviation industry experts note that such airspace restrictions typically harm the implementing country more than the target nation, as demonstrated by Pakistan's substantial revenue losses. The restriction forces aircraft to take longer, more expensive routes, but the overflying fees that Pakistan is losing represent a significant source of income for its aviation infrastructure. The ongoing situation underscores the interconnected nature of modern aviation and how political decisions can have far-reaching economic consequences in the globalized world. Pakistan's persistence with this costly policy despite clear financial damage raises questions about the long-term sustainability of using aviation restrictions as diplomatic tools.
India Today
a day ago
- Business
- India Today
Pakistan lost Rs 1,240 crore in 2 months after closing airspace to Indian flights
Pakistan has suffered heavy financial losses after shutting its airspace to Indian-registered aircraft, with the Pakistan Airports Authority (PAA) losing over Rs 1,240 crore (PKR 4.1 billion) in just two months, Dawn reported, citing an official statement by the country's Defence Ministry. The neighbouring country shut its airspace in response to India's move to suspend the Indus Waters Treaty after the deadly April 22 terror attack in Jammu and Kashmir's Pahalgam, in which 26 people, mostly tourists, were killed. advertisementAccording to the report, Pakistan Defence Minister Khawaja Mohammad Asif confirmed that due to the ban, which came into effect on April 24, the country had suffered a massive loss in overlying revenue. Pakistan has revoked flight permissions for all Indian-registered aircraft, including those operated, owned, or leased by Indian carriers. As a result, PAA's revenue from overflying charges dropped between April 24 and June 30, affecting 100-150 Indian aircraft daily and slashing Pakistan's transit air traffic by almost 20 per cent, as per Dawn. Meanwhile, Pakistan has extended the closure of its airspace to Indian aircraft till August 24. "The ban will now remain in place until 4.59 am on August 24. Pakistani airspace not available for Indian-registered aircraft and aircraft operated, owned, or leased by Indian airlines/operators, including military flights," a NOTAM issued by the PPA read. Indian carriers remain unaffected on other international routes, while Pakistani airlines are still barred from Indian airspace. The Civil Aviation Minister of State has confirmed that the NOTAM will remain in place until August 23, Pahalgam attack, which left 26 civilians dead, was claimed by The Resistance Front (TRF), an offshoot of the Pakistan-based terror group Lashkar-e-Taiba. In response, India launched multiple retaliatory measures, including Operation Sindoor, which targeted key terror infrastructure on Pakistan and Pakistan-Occupied-Kashmir (POK).- EndsMust Watch
News18
3 days ago
- Business
- News18
Pakistan Airports Authority Suffers Rs 4 Billion Loss After Airspace Closure To India: Report
Last Updated: The move disrupted 100–150 Indian flights daily, leading to a 20 per cent drop in total air traffic and reduced income from overflying fees The Pakistan Airports Authority (PAA) reported a loss of Rs 4.10 billion due to the closure of airspace to India between April 24 and June 20, 2025, according to reports. The move disrupted 100–150 Indian flights daily, leading to a 20 per cent drop in total air traffic and reduced income from overflying fees, reported Dawn, citing information presented by the Pakistani Defence Ministry to the National Assembly. Federal Defence Minister Khawaja Mohammad Asif said the revenue shortfall from April 24 to June 30 was related to overflying charges and was lower than the earlier reported figure of Rs 8.5 billion. He noted that the decision of airspace closure came after India suspended the Indus Waters Treaty on April 23, in the diplomatic escalation following the Pahalgam terror attack. Pakistan extended by one month the closure of its airspace for Indian aircraft till August 24, 2025, according to officials. In a tit-for-tat move, India also extended its ban on Pakistani aircraft entering domestic airspace until August 23, Union Minister of State for Civil Aviation Murlidhar Mohol said. The Pakistan-based terror outfit Lashkar's offshoot The Resistance Front (TRF) claimed responsibility for the Pahalgam terror attack, which claimed the lives of 26 civilians. Before launching Operation Sindoor on May 7, India took a series of punitive measures against Pakistan, including downgrading diplomatic relations, suspending the Indus Waters Treaty, and imposing a complete ban on trade — covering both direct and indirect imports and exports. In retaliation for India's diplomatic measures, Pakistan shut its airspace to Indian flights — a move that has now reportedly cost the Pakistani government billions in losses. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Gulf Today
16-07-2025
- Business
- Gulf Today
Britain lifts ban on Pakistani airlines following safety improvements
Britain has lifted a years-long ban on Pakistani airlines following improvements in the country's aviation safety standards, the British diplomatic mission in Islamabad said on Wednesday. The UK's Air Safety Committee imposed the ban after Pakistan's aviation minister in June 2020 disclosed that nearly one-third of the country's pilots had cheated on their licensing exams. The claim came after a Pakistan International Airlines (PIA) crash killed 97 people on May 24, 2020, in the southern city of Karachi. The disaster was attributed to human error by the pilots and air traffic control, and was followed by allegations that nearly a third of the licences for its pilots were fake or dubious. Wednesday's announcement follows a broader international recognition of Pakistan's efforts to improve air safety. Pakistan Prime Minister Shahbaz Sharif welcomed the lifting of the ban as "an important milestone for the country." "The lifting of the ban on Pakistani flights by the UK is a source of relief for Pakistanis residing in Britain," he added in a statement. PIA said it would resume services to Britain in "the shortest possible time" with the first flights operating from Islamabad to Manchester. Pakistan's Defence and Aviation Minister Khawaja Mohammad Asif also welcomed the decision. Speaking at a televised news conference on Wednesday, he attributed the ban to what he described as "baseless' remarks made by former aviation minister Ghulam Sarwar Khan. He said Sarwar Khan's claim tarnished the country's image and triggered significant financial losses for Pakistan International Airlines. Khawaja Asif acknowledged the ban had caused losses. "Confidence is being restored in Pakistani airlines once again," he said at a news conference in Islamabad. Earlier this year, the European Union Aviation Safety Agency also lifted its five-year-long ban, allowing the national flag carrier Pakistan International Airlines to resume direct flights to Europe. British High Commissioner Jane Marriott said that after "extensive engagement' between the UK's Air Safety Committee and the Pakistan Civil Aviation Authority, restrictions on Pakistani airlines have now been lifted. UK diplomatic missions in Commonwealth countries are known as high commissions and are equivalent to embassies. However, Marriott said individual airlines will still need to apply for operating permits from the U.K. Civil Aviation Authority. "I'm grateful to aviation experts in both the UK and Pakistan for their collaborative work to meet international safety standards,' she said. "While it will take time for flights to resume, once the logistics are in place, I look forward to using a Pakistani carrier when visiting family and friends." The high commission emphasised that decisions on delisting countries or carriers from the U.K. Air Safety List are made through an independent safety process overseen by the Air Safety Committee. With more than 1.6 million people of Pakistani heritage living in the UK, and thousands of British nationals residing in Pakistan, it said the move will help families to reconnect and potentially boost bilateral trade ties.
