KARACHI, March 31: The Board of Directors of Pakistan International Airlines (PIA) on Saturday said the airline would, hopefully, resolve the issue pertaining to European Union restrictions by June.

According to a press release, the PIA board approved the audited accounts for fiscal 2006.

The meeting reviewed at length several issues being faced by the airline and observed that the PIA was going through a challenging time with some new pressures like the March 7 EU restrictions on a part of its fleet.

The meeting observed that with fuel prices expected to be averaging below $ 60 per barrel, and plan in hand to streamline overheads, PIA has all the potential for a revival within 12 months.