PIA witnesses record rise in revenue; up to 45 per cent this year

KARACHI: The administration of national flag-carrier Pakistan International Airlines (PIA) has witnessed record rise in revenue up to 45 per cent which benefitted the entity Rs63 billion as it started bearing fruits of its reformations and austerity drive, ARY News reported on Thursday.

Following the reformation process and austerity moves in line with the vision of Prime Minister Imran Khan, the state-own entity has started moving its development and stability phase after witnessing significant growth in its revenue.

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According to the ARY News representative, PIA witnessed 45 per cent rise in revenue within the last six month of the current fiscal year which generated income of Rs63 billion. The state-owned entity had managed to get Rs43 billion revenue in the six of the previous year.

The milestone was achieved by the major cut on unnecessary expenditures up to Rs3 billion which is now reduced to Rs1.70 billion by the administration of the current PIA chief executive officer Air Marshal Arshad Malik.

Sources said that the income was increased up to 43 pc over per kilometre, whereas, PIA’s earning in the current year hiked up to 84 pc in SAT factor.

It is pertinent to mention here that the SAT factor of PIA had been recorded up to 77 per cent but the national flag-carrier retained its lead in IATA’s [International Air Transport Association] SAT factor this year.