Sunday, May 19, 2024
PIA to reach its revenue goal this year, says minister

PIA to reach its revenue goal this year, says minister

HP Newsroom

The Minister for Aviation and Railways, Khawaja Saad Rafique, has stated that Pakistan International Airlines (PIA) will fulfil its leading revenue target this year despite the annual loss of Rs. 20 billion.

PIA is going through a difficult time, but the government is certain that the national flag carrier will reach its financial target of Rs. 170 billion, according to Khawaja, who was speaking at a news conference.

The Minister added that PIA currently has a fleet of only 28 aircraft, and that 40 aircraft would be the magic number needed to lift the airline out of financial problems, which the business is attempting to acquire using its own funds. He disclosed that PIA formerly ran with a fleet of 100 aircraft.

New aircraft will not be purchased in the future due to a lack of funds; instead, the dry lease option will be employed to increase the fleet size.

The Minister continued by saying that two Boeing 777s would be added to the state fleet in January of the following year after being renovated.

He added that they were looking into joint ventures with other airlines who wanted access to a country with more than 220 million people.

The Ministry wants to work with many other airlines, according to Khawaja, but any deals must be beneficial to both parties because PIA cannot afford to lose its major travel destinations, such the Gulf and Europe, which account for a sizeable chunk of its earnings.

 

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