A comprehensive five-year business plan has been developed with the assistance of the world’s premier aviation Organisation, the International Air Transport Association (IATA), to help Pakistan International Airlines (PIA) return to profitability.
The key postulates of the business plan encompass financial restructuring, independent decision making, re-organisation of company structure, restrictions to core business, financial discipline, HR rationalisation, cost controls, review destinations, a fleet planning exercise and network expansion thereby increasing PIA’s network spread and passenger uplift.
Reviving the national flag carrier as well as Pakistan Steel Mills has over the years only emerged as a formidable and daunting challenge.
In the past also efforts were made to revive these state enterprises but remained futile due to many reasons.
Since day one, PTI government has also been promising to change the fortunes of PIA, and now finally it has come up with a business plan but the question remains as to how it will be implemented, given the financial constraints.
A target has been set to increase PIA fleet from current twenty nine to forty nine by 2026.
Indeed apart from other measures, expanding fleet of the PIA is need of the hour as doing so will help it expand its operations on productive routes, especially the Gulf States where the most number of Pakistanis are residing and if we provide them the best services, they definitely will prefer travelling on the national flag carrier.
This certainly will bring revenue in return.However given the current economic situation, we have no other option but to procure the aircraft on a lease basis.
PIA has some precious assets abroad such as Roosevelt Hotel in New York and the Scribe in Paris.
These are located at prime locations and their best utilization can help the Airline enhance its revenues significantly, enabling it to undertake product improvement initiatives which are critical for its long-term sustenance.
One has great expectations from CEO PIA Arshad Malik to run the organization on professional lines and revive its old glory.
However, he should be fully supported by the government to achieve the very objectives of business plan.
