KARACHI, May 27: The Pakistan International Airlines reported an increase in revenue by Rs1.6 billion during the first quarter of the year 2005, which is an 11 per cent increase as compared to the same period last year. According to PIA spokeswoman Samina Khalid, the quarterly accounts were presented to the PIA Board of Directors which held its 286th meeting under the chairmanship of Mr. Tariq Kirmani here Friday.
She said the Board considered and approved the Interim Report reflecting a pre-tax profit of Rs.188 million; and noted that the profitability had been highly affected by the fuel prices which had risen by 40 per cent as compared to last year.
It was observed that despite this negative impact, the increase in revenue had been due to rise in passenger traffic and in cargo earnings having gone up by 20 per cent as compared to the corresponding quarter of the last year, she added.
Mr. Kirmani, she said, apprised the Board of PIA’s Business Plan and the aggressive marketing strategy it is adopting to combat competition on domestic and international routes. He explained that the daily Dubai Special effective June 1 is being introduced keeping in mind the comfort, the convenience and competitive fares for the passengers.
“The chairman also informed the Board of the steps being taken regarding group travel, opening of new destinations, schemes for award plus and development of tourism”, she added.
The spokeswoman said the Board appreciated the policies adopted by the airline and directed the management to continue with its endeavours to enhance revenue and service both in passenger and cargo operations. The members emphasized on cost cutting measures and rationalization of expenses, she added.
She said the Board constituted a human resource and good governance committee and reconstituted its existing audit committee. The board also considered various options to replace its F-27 ageing fleet, she added.
The spokeswoman said the meeting was attended by Asad Ali Khan, H. K. Khaishgi, Dr Sughra Junejo, Syed Mohammad Fazal Agha, S. Ali Raza and Kamal Afsar.
