PIA Premier Service Audit Ordered by PAC

[Abbas Ali]

Public Accounts Committee (PAC) has directed to hold a special audit of PIA Premier service.

Source: Pakistan Today

Abbas

[Abbas Ali]

Huge losses lead to closure of PIA’s Premier Service

December 11, 2017

ISLAMABAD - Pakistan International Airlines (PIA) has closed its Premier Service after bearing huge losses in around six months.

According to the official data, total earnings for the service between August 14 2016 and February 8 2017 remained around Rs0.96 billion.

The loss incurred on direct operations was Rs1.14 billion while the total loss was calculated at Rs2.88 billion.

Explaining the huge losses , the management argued that the PIA fares were worked out to be increased in anticipation. However, owing to capacity glut the overall fare levels did not increase and PIA had to settle for the min fare range (all inclusive) of GBP 532-682 against competitor fare range (all inclusive) of GBS 520-670.

Source: The Nation