The Pakistan Airports Authority (PAA) has suffered a revenue loss of about Rs 123 crore in just over two months after shutting its airspace to Indian-registered aircraft, reported Dawn, citing the Pakistani defence ministry. The shortfall, recorded between April 24 and June 30, was in overflying revenue.The closure came a day after India suspended the Indus Waters Treaty on April 23 in response to the horrific terrorist attack carried out by the ISI-backed terrorists in Baisaran meadow of J&K’s Pahalgam. From April 24, Pakistan withdrew overflight permission for all Indian-registered aircraft and those operated, owned or leased by Indian carriers. The move impacted 100 to 150 Indian flights daily, reducing transit traffic by nearly 20 per cent.A similar airspace closure in 2019 had caused an estimated loss of Rs 228 crore to Pakistan. The shadow boxing between India and Pakistan continues after cessation of the May 7-10 cross-border hostilities, with both countries issuing Notams (notice to airmen) to reserve their respective airspaces along the borders for exercises. Both nations had conducted multiple air force & naval drills in the run-up to the four-day intense hostilities that began after India launched deep precision strikes against four terror hubs in Pakistan and five in POJK on May 7 under Operation Sindoor. Though India made it clear that the aim was to hit only terror infrastructure, Pakistan chose to escalate the situation by launching waves of drones and missiles to target Indian airbases, military assets and civilian areas. IAF had then struck at least nine Pakistani airbases & three radar sites, a few of them close to nuclear facilities as well as command & control structures, with Su-30MKI, Rafale & Mirage-2000 fighters using BrahMos, Crystal Maze-2, Rampage and Scalp missiles, among other precision munitions, for calibrated pinpoint strikes, as was reported by TOI.