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PIA to Undergo Financial Restructuring as Airline’s Revenue Increases
Financial restructuring of Pakistan International Airlines (PIA) is well on the way and would be finalized soon, Business Recorder reported on Friday, quoting PIA CEO, Air Marshal Arshad Malik.
He said that the PIA’s revenue has increased, and the previous two months (September and October) have seen positive gross earnings. Furthermore, he remarked that the efforts made to improve PIA’s performance have started to bear fruit despite the challenges posed by COVID-19.
He said that PIA’s cargo space utilization has been increased, and Boeing 777 aircraft can be used for cargo transportation, adding that PIA is focusing on routes that are profitable considering demand and commercial viability.
Malik said that no up-gradation was made in the past for in-flight entertainment or passengers’ comfort, and now a plan is in the works for the up-gradation of the said system for the convenience of passengers on long-haul flights.
The Air Marshal made these comments at the signing ceremony of a Memorandum of Understanding (MoU) with the Lahore Chamber of Commerce and Industry (LCCI) on Thursday. The MoU is aimed at improving business relations and services for the business community. The PIA will offer a special discount to the LCCI members.
PIA CEO, Air Marshal Arshad Malik, and LCCI President, Mian Tariq Misbah, signed the MoU in the presence of the LCCI officers.
LCCI President said that Lahore Chamber would collaborate with PIA and make strategic efforts to promote the choice of PIA services by their members for domestic and international travel.