PIA revival plan unleashed
ISLAMABAD: Pakistan International Airlines (PIA) has submitted short, medium and long term plans for overhauling the cash bleeding entity as under short term plan the top management has proposed closing down of PIA’s office in New York, abandoning loss making routes and providing half amount against total accumulated losses for achieving at break-even point in one year.
The PIA’s office at New York is bearing expenses to the tune of $13,000 per month but its customers’ base is quite low. “Without induction of new planes, the PIA’s revival will be quite difficult proposition,” said the official sources.
One year losses of PIA are standing at Rs24-36 billion so these hemorrhage needs to be plugged to make it a viable entity.
The government and PIA’s top management have evolved consensus that the national flag carrier required comprehensive overhaul plan covering all aspects as piecemeal approach will not work as situation on ground touched now or never for this cash bleeding entity.
During the official meeting to prepare comprehensive plan for PIA, Federal Minister for Planning Ahsan Iqbal said that it was now life and death situation for PIA as poor nation of over 200 million people could not afford loss making PIA.
He expressed his severe reservations over the non-seriousness attitude of PIA top officials and said If there would be no will shown by PIA to make it a reliable airline, other options would be considered as a consequences.