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$130 million

PIA raises $130 million, offers 30% discount on late-night flights

KARACHI: Pakistan's national flag carrier said Monday it has raised $130 million in fresh financing from a banking consortium, as the airline staggers under the weight of earlier loans totalling more than $3 billion. Pakistan International Airlines (PIA) said in a statement the financing facility was arranged by Pakistan's United Bank Limited (UBL) and Credit Suisse Singapore as lead bankers, in addition to the state-run National Bank of Pakistan. "The (financing) facility... will be utilised by PIA for its general…