Today, Prime Minister Imran Khan received briefing on PIA.
Aviation Minister Muhammad Mian Soomro, Finance Minister Asad Umar, Secretary Aviation and Acting Director General Pakistan CAA Squadron Leader (retired) Shahrukh Nusrat and Acting CEO PIA Air Marshal Arshad Malik attended the briefing.
Acting CEO PIA informed about progress made in steps to revive the airline.
Meeting was informed about employees involved in corrupt practices removed from the airline.
Privatization of PIA is not in the manifesto of Pakistan Tehreek-e-Insaf (PTI), said prime minister.
Government is working on reforms to save the airline from continuous losses and make it profitable, the meeting was informed.
Secretary Aviation briefed prime minister on new aviation policy.
Comprehensive PIA Business Plan will be presented by the end of March, the meeting was informed.
Public should be kept informed about steps being taken for the betterment of the airline, prime minister said.
Abbas
Prime Minister Receives Briefing on PIA
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Re: Prime Minister Receives Briefing on PIA
Aviation Minister Muhammad Mian Soomro and Prime Minister Imran Khan.
Finance Minister Asad Umar and Secretary Aviation and Acting Director General Pakistan CAA Squadron Leader (retired) Shahrukh Nusrat.
Acting CEO PIA Air Marshal Arshad Malik.
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Re: Prime Minister Receives Briefing on PIA
Minister for Privatisation and Aviation Mian Mohammad Soomro informed the Senate Standing Committee on Aviation Tuesday that a four-year strategic business plan for the revival of Pakistan International Airlines (PIA) will be submitted to the prime minister in March.
Source: brecorder.com
Abbas
Source: brecorder.com
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Re: Prime Minister Receives Briefing on PIA
Business plan for PIA to be finalised by end of March
NUZHAT NAZAR & TAHIR AMIN
FEB 20TH, 2019
ISLAMABAD
Pakistan International Airlines (PIA) authorities will finalize a comprehensive business plan by the end of March, 2019 with the objective of restructuring the national flag carrier to turn it into a profitable entity.
PIA official further stated that the business plan, currently being developed, consists of cost-cutting and revenue generation measures through a detailed analysis of the market, rightsizing operations and work centres, flights and routes for the revival of the national flag-carrier.
PIA's financial restructuring will be carried out through government support and the current fleet will be reviewed and purchase of new aircraft decided, the official added. Explaining PIA's financial health, the official said the current operational losses are at Rs 3 billion per month but this bleeding would be successfully plugged once the new business plan is implemented.
"The proposed business plan includes measures to improve the airline's performance with several profitable routes like Sialkot-Sharjah, Lahore-Muscat, Islamabad-Doha and Lahore-Bangkok-Kuala Lumpur, as these routes are profitable," he stated.
PIA official said more routes have been planned by the airline, which would commence by mid 2019. These new routes include Sialkot-Paris-Barcelona, Peshawar-Sharjah, Peshawar-Al- Ain and Multan-Sharjah. He further added that there is a plan to increase frequency and capacity of profitable routes like Jeddah and Madinah, besides planning for closure of loss-making routes like New York, Salalah (Oman), Kuwait, Mumbai and Tokyo. The airline is also replacing the 20-year-old highly expensive software system with a new one (HITIT), which is cost effective and efficient. He said the airline also plans to terminate around 200 ghost employees.
An effective austerity and cost saving drive has been initiated which includes curtailment of unnecessary visits by officials at subsidized rates. The open skies policy of previous governments led to losses to the national carrier, said the official, adding that the government has decided in principle to end the open skies policy, which would help in generating revenue.
The Economic Coordination Committee (ECC) of the cabinet approved additional guarantees to the tune of Rs 5.6 billion for Pakistan International Airlines Company Limited (PIACL) for repair and maintenance of engines and acquisition of related spare parts for operationalizing grounded planes last week. Sources said that the Cabinet Committee on Privatisation (CCoP) has sought formal proposals with regard to future prospects of Roosevelt Hotel, New York, to be finalized by June 2019.
A meeting of the CCoP presided over by Finance Minister Asad Umar was recently informed that PIA intended to convert Roosevelt Hotel into a high-rise building for the purpose of giving it on rent. The meeting was further told the proposal is aimed at mobilizing resources.
Source: brecorder.com
NUZHAT NAZAR & TAHIR AMIN
FEB 20TH, 2019
ISLAMABAD
Pakistan International Airlines (PIA) authorities will finalize a comprehensive business plan by the end of March, 2019 with the objective of restructuring the national flag carrier to turn it into a profitable entity.
PIA official further stated that the business plan, currently being developed, consists of cost-cutting and revenue generation measures through a detailed analysis of the market, rightsizing operations and work centres, flights and routes for the revival of the national flag-carrier.
PIA's financial restructuring will be carried out through government support and the current fleet will be reviewed and purchase of new aircraft decided, the official added. Explaining PIA's financial health, the official said the current operational losses are at Rs 3 billion per month but this bleeding would be successfully plugged once the new business plan is implemented.
"The proposed business plan includes measures to improve the airline's performance with several profitable routes like Sialkot-Sharjah, Lahore-Muscat, Islamabad-Doha and Lahore-Bangkok-Kuala Lumpur, as these routes are profitable," he stated.
PIA official said more routes have been planned by the airline, which would commence by mid 2019. These new routes include Sialkot-Paris-Barcelona, Peshawar-Sharjah, Peshawar-Al- Ain and Multan-Sharjah. He further added that there is a plan to increase frequency and capacity of profitable routes like Jeddah and Madinah, besides planning for closure of loss-making routes like New York, Salalah (Oman), Kuwait, Mumbai and Tokyo. The airline is also replacing the 20-year-old highly expensive software system with a new one (HITIT), which is cost effective and efficient. He said the airline also plans to terminate around 200 ghost employees.
An effective austerity and cost saving drive has been initiated which includes curtailment of unnecessary visits by officials at subsidized rates. The open skies policy of previous governments led to losses to the national carrier, said the official, adding that the government has decided in principle to end the open skies policy, which would help in generating revenue.
The Economic Coordination Committee (ECC) of the cabinet approved additional guarantees to the tune of Rs 5.6 billion for Pakistan International Airlines Company Limited (PIACL) for repair and maintenance of engines and acquisition of related spare parts for operationalizing grounded planes last week. Sources said that the Cabinet Committee on Privatisation (CCoP) has sought formal proposals with regard to future prospects of Roosevelt Hotel, New York, to be finalized by June 2019.
A meeting of the CCoP presided over by Finance Minister Asad Umar was recently informed that PIA intended to convert Roosevelt Hotel into a high-rise building for the purpose of giving it on rent. The meeting was further told the proposal is aimed at mobilizing resources.
Source: brecorder.com
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Re: Prime Minister Receives Briefing on PIA
18 new planes, new routes planned for PIA.
https://tribune.com.pk/story/1929048/1- ... anned-pia/
Abbas
https://tribune.com.pk/story/1929048/1- ... anned-pia/
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Re: Prime Minister Receives Briefing on PIA
PIA business plan will be presented in next three weeks, said Aviation Minister Muhammad Mian Soomro in Karachi today.
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Re: Prime Minister Receives Briefing on PIA
Advisor to President & CEO PIA Air Vice Marshal Noor Abbas on Wednesday (April 17) said that closure of loss-making routes and induction of new aircraft are on priority in airline's five-year business plan. The airline intends to induct new 259-seater aircraft.
The business plan has been approved by the prime minister and will be implemented after its approval by the federal cabinet.
https://www.express.com.pk/epaper/PoPup ... e=20190418
Abbas
The business plan has been approved by the prime minister and will be implemented after its approval by the federal cabinet.
https://www.express.com.pk/epaper/PoPup ... e=20190418
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Re: Prime Minister Receives Briefing on PIA
CEO PIA AVM Noor Abbas?Advisor to President & CEO PIA Air Vice Marshal Noor Abbas
Adnan