pia losses, 416 billion

The Minister for Aviation Division informed the Senate on Friday that the Pakistan International Airlines PIA’s losses have reached to Rs. 416 Billion.

He said that we are making certain efforts to increase flight operations through the dry leasing to acquire aircrafts.

During the Question Hour, the minister added while responding to various questions that, non-commercial routes of the flights were being closed and that the viable ones are one being opened only.

The Minister further stated that the international and domestic flights faced reduction due to the shortage of the aircrafts.

PIA LOSSES REACH RS. 416 BILLION

At the moment, PIA is operating its aircraft on more than 18 international routes, which included Italy, Spain, UK, France, Norway, Spain, Denmark, Oman, Iraq, UAF, Saudi Arabia, Oman, UAE, Iraq, Malaysia, China, Bangladesh, Afghanistan, India, Qatar, and Thailand.

He also said that construction of an Airport was just a political statement and briefed that there were no funds were collected for it.

Read more: Iran visit was confirmed by PM Imran Khan on April 21.

He said that after acquiring additional aircrafts, more flights would be operated to Quetta, and that the air-operations would be resumed soon to Saidu Sharif.

To another question, Minister responded by saying that China has agreed to provide a 100 percent grant of Rs. 3.5 Billion for the construction of a Gwadar International Airport. The project is estimated to start by June 2019 and its estimated time of completion will be in 36 months.

However, it was announced last month that at the operational level, PIA has reached break-even point, after getting it out from losses after such a long time and revenues are exceeding the operational costs of the quarter ending in 31st March, 2019.

Adviser to PIA CEO Air Marshal Noor Abbas said that, it may take three to four years to report a net profit.

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