KARACHI: Pakistan International Airlines (PIA) is expected to incur losses of Rs 100 billion due to suspension of international flights amid coronavirus pandemic.
According to details, the PIA is expected to incur losses up to to Rs100 billion due to flight operations ban by the United Kingdom, EU and the USA. The target of revenue for the current year was set at Rs196 billion.
Moreover, the national flag carrier would also suffer losses of up to Rs12 billion in terms of Hajj operations this year after the Saudi authorities decided to hold the annual pilgrimage on a limited scale, while the airlines is also facing losses up to Rs9 billion due to closure of Umrah operations.
It is pertinent to mention here that that on July 10, PIA CEO Arshad Malik apprised the Premier regarding the status of ongoing dialogues with European Union Aviation Safety Agency (EASA) for the resumption of flight operation. He also gave a briefing to PM Imran Khan regarding the restructuring process of the national carrier. Malik also presented a comprehensive plan to Imran Khan for turning PIA into a profitable national entity. PM Khan directed Malik to expedite the reform process of PIA and summoned the framework for reform agenda within seven days. – TLTP