*KARACHI: *Pakistan International Airlines (PIA) is going to achieve aturnaround in the next three years, declared Federal Minister for Aviationand Privatisation Muhammad Mian Soomro.
“PIA is restricting its losses and in the next three years, it will beprofitable,” he said during a press briefing at the Pakistan Civil AviationAuthority (CAA) headquarters on Thursday.
PIA reported a loss of Rs27 billion in the quarter ended September 30,2018, against Rs30 billion in the same period of 2017, according to thelatest data revealed by the airline. The national flag carrier has notannounced any data after that.
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However, in a comprehensive report to the court hearing a suo motu case,the air carrier reported liabilities of Rs406 billion against assets ofRs111 billion. “The new administration of PIA is making efforts to increasethe efficiency of the airline,” the minister said.
