KARACHI – The Civil Aviation Authority (CAA) has suspended the operation of five aviation companies for their failure to renew the licenses on time.
The suspension affected the flight operations of two companies based in Lahore while one each from Rawalpindi, Karachi and Peshawar. The Aero Club Karachi, Airborne Aviation Lahore, Selected Aviation Lahore, Rawalpindi Flying Club and Peshawar Flying Club are the ones which failed to renew their annual licenses on time.
The suspension has barred the trainer aircraft of these companies to go airborne, denting a huge financial blow to them on daily basis. Sources close to the developments opine that the issue erupted due to inclusion of KIBOR (Karachi inter-bank offered rate) in bills.
The spokesperson for CAA confirmed that the operations would be resumed once the licenses are renewed. He added that the decision on KIBOR would be made during the Board of Directors meeting, Express News reported.
