As part of an investigation into corruption at the Kabul Bank, the Afghan Civil Aviation Authority indefinitely suspended the operating licence of Pamir Airways on 19 March 2011. The Kabul-based airline has been operating scheduled domestic and international passenger services, plus charter flights since 1995. At the time of the suspension the fleet consisted of three Boeing 737-400s, one 737-200 and two Antonov An-24RVs. After falling into financial difficulties, the company was taken over in 2008 by a group of businessmen including Sherkhan Farnood, the airline's chairman. Mr.Farnood was also a shareholder and the chairman of Kabul Bank, and it is alleged that he used his position to grant loans which facilitated the expansion of the airline. The Boeing 737-400s arrived after the airline received the new funding. Kabul Bank has been under investigation since last year after the Afghanistan central bank was required to step in to provide emergency funds and take over its operations.
Fri, Mar 25 2011 8:20 AM
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