Home articles PIA’s revival

PIA’s revival

PAKISTAN International Airline (PIA) has become a liability only because of mismanagement and political interference spanning over many years. Big claims were also made in the past both by the PML (N) and PPP governments to revive the Airline what was once called the pride of the nation but no visible change was witnessed.
However under its current Chief Executive Officer Arshad Malik, some positive changes have been seen in the operations of the national flag carrier over the last few months. Briefing the media persons in Karachi on Thursday, Minister for Aviation and Privatization Mian Muhammad Soomro was also upbeat about the revival of the Airline saying it will achieve the turn around in the next three years. Indeed there is no quick and easy solution and sustained efforts are required to gradually turn its tide. The Airline reported a loss of Rs 27 billion in the quarter ended September, 2018 against Rs 30 billion in the same period of 2017, indicating clearly that losses are being cut due to better management and operations which also included shutting down the loss making routes and starting the profitable routes. Nonetheless, the reported liabilities of the PIA that stand at Rs 406 billion against assets of Rs 111 billion is a big issue that needs to be addressed somehow at the earliest. As its incumbent Administration is busy in chalking out a business plan that according to Arshad Malik will envisage measures for cost saving, revenue generation and improvement and expansion of flight operations, we understand that the government will have to give another bailout package to the Airline to achieve the desired objectives. Recently, the government approved $ 27 million for renovation of PIA’s Roosevelt Hotel in New York and to turn it into a mixed use building. Steps like these and by fully utilizing its precious assets, the entity can be put on the path of earning incremental profits. Doing away with the open sky policy by the government in its new aviation policy is also to augur well not only for the PIA but also other domestic Airlines.