Senate Committee Receives Briefing on PIA Progress

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Abbas Ali
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Senate Committee Receives Briefing on PIA Progress

Post by Abbas Ali » Fri Jul 12, 2019 3:39 pm

PIA expects Rs5 bn additional revenue

Israr Khan

July 12, 2019

ISLAMABAD:
Pakistan International Airlines (PIA) after the addition of its two grounded aircraft in its fleet would increase annual revenue of this national flag carrier by Rs5 billion and would not need to further acquire aircraft on lease.

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The airliner has also started flight operations on seven new destinations while has suspended flights on six loss-making routes including Lahore-Delhi, Karachi-Dhaka and Karachi to Kabul. This would increase revenue while reduce its expenses, a senior official of the Airliner informed the Senate Standing Committee on Aviation that met here with Senator Mushahid Ullah Khan in the chair.

Financial health of PIA had much improved after the opening of new profitable routes. Grounded aircrafts had been made functional and after this the airline expecting additional Rs5 billion increase in annual revenues.

Official said, we have also sold dead engines that fetched $5 million to this national Airliner. We are also going to offer 36 properties of PIA on rent, which include seven properties abroad. Besides, 200 ghost employees had been terminated by the management.

PIA is also working hard on minimizing its operational costs, which earlier was considerably high and has started reducing.

PIA has also increased the number of flights on profitable routes due to which the Airlines revenue has increased considerably. With the induction of these aircraft, PIA will not go for acquisition of aircraft of lease.

Local and foreign trips of the officers, flight crew and other employees, and their unnecessary allowances have been stopped. Duty times have been increased and surplus workers have been transferred to other suitable places to effective for bringing betterment. Cargo service has been further improved while booking for employees in five-star hotels has been reduced.

PIA has added aircraft A320 to its fleet after it remained grounded for more than one year. It was the second aircraft that resumed operation after a month. As in June, Boeing 777 was also made operational. Now there is no grounded aircraft left behind except for mandatory routine maintenance checks. These aircraft have been added to the PIA’s fleet after carrying out its test flight successfully. The revived aircraft — Boeing 777 and A320 — will be utilised for PIA’s Hajj operation.

Source: The News
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Abbas Ali
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Re: Senate Committee Receives Briefing on PIA Progress

Post by Abbas Ali » Fri Jul 12, 2019 3:42 pm

Chief Executive Officer PIA Air Marshal Arshad Malik presented to the committee seven new routes, which have been introduced to earn profit while five loss-making routes were closed.

According to the senior official, PIA revenue has bumped 34 percent after saving 20 percent on operation costs, improving cargo services, controlling delays, fuel management and centralizing food procurement. He explained that PIA saved Rs 35 million in two months after earning from excess baggage which were up 11 percent and improving cargo load factor by 55 percent.

"We have also recovered a Boeing 777 and an A320 Airbus aircraft lying abandoned for 15 months, after repairing them at a cost of $3 million. The fleet now consists of 28 planes and we are leasing two new aircraft," Air Marshal Arshad Malik informed members. The official also briefed about restoration of seven PIA properties across the world including New York and Amsterdam and renting them to earn enough to buy new aircraft. Another 29 internal properties are in the process of restoration that will be used to generate equity.

"The house in New York will go rent for an estimated $6,000," the senior official said. The members were concerned about the meagre pensions of the former PIA employees. The CEO PIA responded by saying that his request to increase pensions by 35 percent was declined by the Board, which instead agreed to 15 percent.

During the meeting Chairman of the committee PMLN Senator Mushahid Hussain urged the CEO to reconsider re-instating PIA staff that has been dismissed for possessing fake degrees. "We would like to urge the CEO to reconsider their cases on compassionate grounds. If the national flag carrier can retain the few despite possessing fake academic records, the PIA can look into the cases of those dismissed. PIA management took a harsh stance of removing them from service instead of handing down minor punishments for their offence," Mushahidullah Khan said.

Source: brecorder.com
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fahadshakeel
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Re: Senate Committee Receives Briefing on PIA Progress

Post by fahadshakeel » Fri Jul 12, 2019 6:48 pm

Abbas Ali wrote:
Fri Jul 12, 2019 3:42 pm

We have also recovered a Boeing 777 and an A320 Airbus aircraft lying abandoned for 15 months, after repairing them at a cost of $3 million.
Why don't they say that they have replaced the grounded aircraft AP-BHV with AP-BID
I am sick of reading articles on this restoration