Ecommerce’s Rising Star Airlift Shuts Down Operations in Pakistan

The best-performing startup in Pakistan, Airlift, announced on Tuesday that it had permanently ceased operations there due to a lack of funding for day-to-day operations and the failure of a recent fund-raising effort.

“While the recent downturn in the capital markets and the global recession have had an impact on economic activity across the board, they have had a devastating effect on Airlift and made its closure inevitable. The operations of Airlift will end permanently on July 12,” the company announced in a statement.

The startup had previously pulled out from a few growth markets, reduced staff, and raised delivery costs as part of a business restructuring strategy, but ultimately failed to thrive.