PIA records Rs2.8bn profit in first quarter of this year

Published September 17, 2015
The PIA has increased its fleet size from 22 aircraft in 2013 to 35 planes at present.—AFP/File
The PIA has increased its fleet size from 22 aircraft in 2013 to 35 planes at present.—AFP/File

ISLAMABAD: The Pakistan International Airlines (PIA) recorded a gross operating profit of Rs2.83 billion in the first quarter of this year and its revenue increased by six per cent as compared to last year, the aviation ministry said on Wednesday.

Addressing a press briefing with Fariha Tahir Shah of the Civil Aviation Authority, Sher Ali Khan, a spokesman for the aviation division, said efforts made by the prime minister’s special assistant on aviation had made the recovery possible.

Mr Khan said that in 2014-15 the national carrier had reduced its loss by 37 per cent.

“The turnaround is visible because the PIA has increased its fleet size from 22 aircraft in 2013 to 35 planes at present and plans are under way to increase the size to 42 by the end of this year,” he said.

Take a look: PIA to acquire 12 planes on dry lease

Mr Khan said that in 2013-14 the loss before tax suffered by PIA stood at Rs27.45bn which was reduced to Rs8.62bn in 2014-15.

“After grounding the A-310 aircraft and acquiring 777 aircraft, the average fleet age will come down to six years from 20 years earlier,” he said, adding that the measures had improved service standards of the airlines.

He praised the Qatari government for donating eight new buses to take passengers from terminals to the aircraft along with $25 million worth of ILS CAT-III equipment.

He said that in an effort to reduce costs, PIA closed its loss-making international routes and shut down offline stations like Chicago, Istanbul and Sydney, from where the airlines did not operate flights.

“Additional staff members posted at international stations were also called back which helped save a significant amount of money,” Mr Khan said.

He said a culture of accountability had been introduced in the organisation and 302 holders of fake degrees had been sacked.

The spokesman also highlighted the positive outcomes of the National Aviation Policy 2015 which “led to inauguration of the Multan International Airport, development of the BBIAP, Islamabad, and construction of the Haj lounge at the Allama Iqbal Airport, Lahore”.

He said that 85 per cent work on the new Islamabad international airport and the new Gwadar airport had been completed. About the reorganisation and up-gradation of the Airport Security Force, Mr Khan said its command had been handed over to an officer of major general rank and two separate commands had been created.

Published in Dawn, September 17th, 2015

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