PIA’s Revenue Improved 41% in the Last Six Months: CEO

Pakistan International Airline’s (PIA) revenue has increased by 41 percent in the last six months, according to Chief Executive Officer (CEO) Arshad Mahmood Malik.

He announced this while addressing industrialists of Korangi, in Karachi yesterday. The CEO said that corrective measures of the incumbent government have started to show positive results.

He said that the national flag carrier has started operating flights for multiple international routes and they will be further increased in coming days.

Two new aircraft would be added to the fleet by next month, and three more aircraft would be added by next year.

The PIA Chief mentioned that they are going to increase the number of flights to Dubai and other Gulf countries, as they were among the most profitable routes.

He added that several corrective measures for PIA are on the cards that will improve cargo and other services. He asked the business community to support the national airline in this regard.

“We have signed a memorandum of understanding with the local business community, under which we are going to establish special counters for them,” he said. PIA also offers the business community a 5% discount on domestic and 7% off for international flights.

He highlighted that the airline is currently operating with 12 Boeing 777 aircraft in its fleet, adding that 80% improvement in cargo handling has reduced losses.

Speaking on the occasion, the Patron-in-Chief of Korangi Association of Trade and Industry (KATI), SM Muneer, acknowledged the improvements in the national airline’s service saying that “a lot was still required.”

He stressed on an effective and comprehensive strategy to improve cargo handling.

  • Organizations don ot reduce debt by increasing sales, but reduce debt by increasing profits. Why only mention 41% increase in revenues, mostly resulting from passing increase in fuel prices to the customers, but no mention of profits? If the profits have remained same or if the organization continues to bleed, better to reduce staff along with further cost reduction than to increase revenues.

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