News reel


Saturday, November 1, 2014

Improvement in PIA

PIA has cut losses of Rs13.5bn this year: aviation adviser

ISLAMABAD: Adviser to Prime Minister on Aviation Affairs Shujaat Azeem said on Friday that the annual loss of Pakistan International Airline (PIA) had been reduced to Rs18 billion from Rs31.5 billion during the previous year.

He said the PIA was also paying Rs3.29 billion interest on legacy loans that were taken in 1992.
Speaking to reporters in the federal capital, the premier's adviser said that 10 more narrow-body airbuses and five aircraft manufactured by French-Italian manufacturer ATR would be inducted in PIA by the end of December this year.
Induction of more aircraft would help boost PIA's performance which would assist in generating more revenue, Azeem said.
Praising the initiatives for the improvement of the national carrier, he said the government was working towards introducing a new aviation policy to discourage corruption within PIA.
PIA had received delivery of its eight A-320 aircraft acquired on long-term dry lease from General Electric, Azeem added.
He also said that the PIA has 25 operational airbuses and 11 ATR aircraft at present and increasing the number would also help overcome its financial difficulties.