Pakistan International Airline (PIA), Chief Executive Officer of Air Marshal Arshad Malik, Speaking at the second annual session of PIA’s shareholders, said the airline is on its path of improvement, however, it will certainly take some time to become profitable.
Arshad Malik said, at the end of 2017, the collective earning of the airline was nearly Rs91 billion while losses stood at Rs46.5 billion.
The session also approved appointments of external auditors for the financial assessment of 2017 and 2018.
The CEO said the delay in financial assessment was caused owing to the negligence of previous administrations.
The productive policies of the government led by the Pakistan Tehreek-e-Insaf (PTI), which completes its one year, are now bearing fruit for the improvement of national institutions. The government is implementing a business plan to eliminate the national carrier of major financial losses to turn it into a profitable institution. Sources say PIA has generated 30% revenue in the last six months.
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16 November, 2019