Pakistan International Airlines (PIA) traces its origins back to 1946 when it was established as the national carrier of Pakistan. It began as Orient Airways in British India and was granted a license in 1947. PIA has experienced significant financial losses in recent years, with revenues failing to cover costs. It has a large fleet of 40 planes but high fuel and maintenance expenses have contributed to mounting debt that now exceeds $1 billion, despite efforts to reduce payroll by firing 200 employees with fake degrees. PIA owns valuable international assets like hotels in New York and Paris that have helped provide some profits to offset airline losses.