'PIA will certainly take some time to become profitable'
- By Web Desk -
- Aug 26, 2019
KARACHI: Chief Executive Officer of Pakistan International Airline (PIA) Air Marshal Arshad Malik said the national flag carrier is on its path of improvement, however, it will certainly take some time to become profitable.
Speaking at the second annual session of PIA’s shareholders, he said, at the end of 2017, the collective earning of the airline was nearly Rs91 billion while losses stood at Rs46.5 billion.
The session also approved appointments of external auditors for the financial assessment of 2017 and 2018.
The CEO said the delay in financial assessment was caused owing to the negligence of previous administrations.
It is worth noting that the PIA and Civil Aviation Authority are heading towards its development phase in accordance with the vision of Prime Minister Imran Khan.
The productive policies of the Pakistan Tehreek-e-Insaf (PTI) led government, which completes its one year, are now bearing fruit for the betterment of the national institutions.
The government is implementing a business plan for taking out the national flag-carrier from the major financial losses to transform it into a profitable institution. Sources said that PIA received 30 percent revenue during the last six months.