The Pakistan International Airlines (PIA) management will frame a comprehensive five-year strategic business plan to turn the loss-mired national flag carrier into a profitable entity.
The PIA Chief Executive Officer (CEO), Air Marshal Arshad Mehmood Malik, announced that PIA will be revived to its past glory. “Due to mismanagement and corruption, PIA had become a liability. Prime Minister Imran Khan tasked us to revive the PIA as a profitable enterprise,” said the CEO in a news conference at the Press Information Department (PID).
Ever since taking the responsibility in October 2018, we have taken some short-term measures to ensure its smooth functioning and now we are going to give a five-year long-term plan in a three-month period.
Malik said that the five-year plan will focus on measures for revenue generation, cost saving, expansion and improvement of flight operations.
“Financial restructuring through government support will also be part of the plan,” he added.
The PIA chief told that he is aware that reviving PIA is not an easy task, but he has got the aviation minister’s full support. He recognized that PIA was facing numerous issues due to the meddling of PIA Union in administrative affairs and non-professional attitude to corruption and overstaffing.
“But I also found that PIA pilots, engineers, and technicians were the best in the industry and they only needed ownership to harmonize their energies,” he added.
Malik further told that several steps have been taken to cut the cost and stop the bleeding. In this regard, seven loss-making routes have been suspended. These routes are:
- Karachi-Kuala Lumpur-Karachi,
He said that these routes were incurring a loss of Rs. 500 million every month. Along with suspending the loss-causing routes, PIA has also introduced seven profit-making routes.