Five aviation companies have been suspended by the Civil Aviation Authority (CAA) for failing to renew their licences on time.
The flight operations of two Lahore-based companies and one each from Rawalpindi, Karachi, and Peshawar were disrupted by the stoppage. Aero Club Karachi, Airborne Aviation Lahore, Selected Aviation Lahore, Rawalpindi Flying Club, and Peshawar Flying Club failed to timely renew their annual permits.
The restriction has prevented these companies’ trainer aircraft from taking to the skies, causing them daily financial hardship. According to sources close to the situation, the dispute developed as a result of the inclusion of KIBOR (Karachi inter-bank offered rate) in invoices.
The CAA representative indicated that activities will restart once the licences have been renewed. According to Express News, he stated that the decision about KIBOR would be made during the meeting of the Board of Directors.