Pakistan International Airlines (PIA) has posted first-quarter revenues of Rs 23.5 billion, showing an impressive increase of 7% (up by Rs 1.6 billion) from the same period last year.
On the other hand, the operational costs have also increased by Rs 1.3 billion year-on-year (YoY). It must be noted that these are preliminary financial statements and are not yet approved.
The Factors Behind the Increasing Numbers
The surge in revenues is attributed to the following factors:
- An aggressive approach to sales and marketing
- 91% schedule reliability – the highest ever
- Discipline
- Product improvement – food quality, refurbishments, cleanliness etc.
- Change in attitude
While the operational costs have escalated due to the following reasons:
- 31% increase in fuel prices YoY
- 15% rupee devaluation YoY
PIA’s Turnaround
PIA is striving for sustainable profitability and growth. Despite having a number of aircrafts grounded due to poor facilities – dirty seats and washrooms, murky carpets and whatnot, the relentless efforts of PIA management have bore fruit.
Getting the grounded aircraft back in the air is an achievement in itself considering the dismal financial conditions of the national flag carrier.
The government of Pakistan has released the previously apprehended funds, thanks to the efforts of the PIA management to bring about positive change in the organization.
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While a PIA spokesperson highlighted the fact that certain people are trying to defame PIA, however, the recent initiatives taken by the management and the efforts of employees are yielding positive results: stakeholders are confident more than ever of the organization’s performance which speaks for the efforts of the management.
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