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Porter Airlines plans to restart flying in September, will recall 500 employees

Porter Airlines is pushing back the date it plans to resume flying to Sept. 8, nearly 18 months after it suspended flights due to the pandemic. The airline has delayed the resumption of its flights several times. It had most recently hoped to restart operations on July 20. Porter says it will restart operations in phases, with the initial flights between Canadian destinations. Flights to US cities including Boston, Chicago, New York and Washington will resume Sept. 17. Porter says approximately 500 employees will be recalled to active status as the first phase of flights are introduced. It says more staff will be added as more flights and destinations return to the schedule. The airline suspended operations on March 21, 2020, due to the pandemic.<br/>

Gulf Air plane evacuated in Kuwait after "minor incident" on landing

Passengers and crew onboard a Gulf Air flight from Bahrain were evacuated at Kuwait International Airport on Monday after what the airline described as a "minor incident" during landing. All 62 passengers and 7 crew onboard flight GF215 from Bahrain to Kuwait were safely evacuated from the aircraft and escorted to the airport terminal, the airline said on Twitter. "We are currently working with the authorities to identify the cause of the incident."<br/>

PIA Pakistan to issue $127mn sukuk this month

PIA will issue a ten-year sukuk later this month, worth up to PKR20b rupees (US$126.7m) including a greenshoe (over-allotment) option of PKR5b (US$31.6m), an abridged term sheet reveals. The purpose of the Islamic bond issue is to meet its permanent working capital requirements and for the settlement of part of its existing financing facilities, both conventional and Islamic, it outlined. The sukuk will come inclusive of a two-year grace period and will be repaid in 96 equal monthly instalments. Classified as a “public sector sukuk”, it will be privately placed and 100% backed by government guarantee, with BankIslami Pakistan acting as joint book-runner, advisor, and investment agent on the issuance.<br/>