The Minister for Aviation, Khawaja Saad Rafique, issued a stern warning on Friday, stating that Pakistan International Airlines (PIA), the country’s national flag carrier, could be confronted with catastrophic losses of Rs 259 billion by 2030 unless immediate corrective measures are taken.
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Dar Directs Quick Resumption of PIA Flights to US, UK, and Europe
Islamabad, July 7, 2023 – Finance Minister Muhammad Ishaq Dar has called for immediate measures to facilitate the prompt resumption of Pakistan International Airlines (PIA) flights to the United States, United Kingdom, and Europe.
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PIA lowers fares for students flying to China
The national flag carrier, Pakistan International Airlines (PIA) has cut down fares for Pakistani students travelling from Pakistan to China with immediate effect.
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PIA commences flight operations to Azerbaijan
LAHORE: Pakistan International Airlines (PIA) – the national flag carrier – has commenced its flight operations to Baku, Azerbaijan from the country’s two major cities i.e. Lahore and Karachi, according to a statement issued on Wednesday.
The airline management under the guidance and leadership of CEO PIA, Air Marshal Arshad Malik is fulfilling the vision of Prime Minister of Pakistan to foster and promote brotherly ties with Central Asian Countries and also keeping in view the demand of passengers, to increase revenue and to facilitate passengers, has initiated flights to Baku, one of the emerging tourists destinations that offer ease of Visa facility, having friendly and welcoming people with same religion and lots of historic sites to visit both in Pakistan and Azerbaijan.
READ MORE: PIA incurs loss of Rs42.72 billion in nine months
The inaugural flights departed from the two cities on Wednesday morning. PIA will operate one flight per week from Lahore and Karachi to Baku. Simple Cake cutting ceremonies were held at Karachi and Lahore Airports. Both flights operated with full loads. CEO PIA also traveled on the first flight to Baku.
CEO PIA Air Marshal Arshad Malik welcomed the passengers of the first flight from Lahore. He met with the passengers and exchanged views with them. The passengers thanked CEO PIA Air Marshal Arshad Malik and the airline’s management for initiating direct non-stop flights to Baku.
READ MORE: PIA transports 5.9 million new batch of COVID vaccines
Sharing his views on the occasion, he said that the flights to Baku will not only facilitate in trade between the two countries but also promote tourism and further build upon brotherly relations between Pakistan and Azerbaijan.
CEO PIA thanked the passengers for making PIA their preferred choice for travel. He said that the airline’s network expansion is under way more flights will be added to the airline’s network including non- stop flights to Australia.
READ MORE: PIA shows 46% revenue decline in half year
Ambassador for Azerbaijan Khazar Farhdove also traveled on the inaugural flight from Lahore to Baku, while at Baku airport officials of Civil Aviation authority and senior Government officials welcomed the passengers.
The passengers of PIA’s flight to Baku from Karachi were welcomed and seen off by PIA senior officials.
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PIA incurs loss of Rs42.72 billion in nine months
KARACHI: Pakistan International Airlines, the national flag carrier, on Wednesday declared a loss of Rs42.72 billion during the first nine months (January – September) of 2021.
The losses of the national flag carrier were over Rs40 billion in the same period of the last year.
The board of directors of PIA in its meeting on October 27, 2021, approved the financial results for the period ended September 30, 2021.
The board has not approved any cash dividend, bonus shares, or right shares for the period.
The revenue of the airline significantly declined to Rs49.36 billion during January – September 2021 as compared with Rs74.36 billion in the same period of the last year.
On account of aircraft fuel, the airline has spent Rs13.44 billion during the period under review as compared with Rs18.08 billion in the corresponding period of the last year.
Administrative expenses of PIA reduced to Rs3.97 billion during the first nine months of the current year as compared with Rs4.53 billion in the same period of the last year.
The exchange losses of the company were at Rs5.18 billion for the period under review as compared with Rs7.57 billion.
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PIA transports 5.9 million new batch of COVID vaccines
BEIJING: Pakistan International Airlines (PIA), the national flag carrier of the country, has transported 5.9 million doses of COVID-19 vaccines through two special flights from China.
The PIA through its two special cargo flights transported a new batch of 5.9 million doses of vaccines from Beijing Capital International Airport to Islamabad.
Special cargo flights – PK6852 and PK6853 took off from Beijing Capital Airport for Islamabad on Monday and Tuesday and transported 5.9 million doses, Qadir Bux Sangi, PIA Country Manager for China told state media here on Tuesday.
On August 29, the national flag carriers airlifted around 12 million doses of anti-Covid-19 vaccines through its four special cargo flights.
The PIA special flights PK-6852, PK-6853, PK-6854 and PK-6856 transported 12 million doses of Sinovac vaccine procured from China for vaccination of people under government’s ongoing prevention and control drive against Covid-19 pandemic, he added.
He said that under able leadership of its Chief Executive Officer, Arshad Malik, the national flag carrier has so far airlifted over 63 million doses of anti-Covid-19 vaccine through 49 special flights.
It is worth mentioning that the government under its mass vaccination drive has set a target to vaccinate 75 million population by end of 2021.
Chinese vaccines namely Sinopharm, Sinovac and CanSino besides other vaccines are being used in the mass vaccination drive.
The health authorities launched the nationwide vaccination drive with around a million doses of Sinopharm vaccine donated by China, starting with older people and frontline healthcare workers, in March this year.
The drive began with a focus on the oldest people in the community, generally over the age of 80 but now the vaccine is being administered to the people aged over 18 years.
Islamabad received the first COVID-19 vaccine consignment after a military aircraft transported it from Beijing on February 01, this year.
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PIA airlifts 12 million doses of Sinovac vaccines
BIEJING: Pakistan International Airlines (PIA) on Sunday carried fresh batch of 12 million doses of Sinovac vaccines through special flights from Beijing, to Capital International Airport of Islamabad.
The PIA airlifted the Sinovac vaccines obtained from China and brought it to Pakistan for the people under government’s ongoing prevention and control drive against Covid-19.
The PIA Country Manager for China said, “PIA special flights PK-6852, PK-6853, PK-6854 and PK-6856 transported 12 million doses of Sinovac vaccine procured from China for vaccination of people under government’s ongoing prevention and control drive against Covid-19 pandemic.”
He further said that under able leadership of its Chief Executive Officer, Arshad Malik, the national flag carrier had so far airlifted 57 million doses of anti-Covid-19 vaccine through 47 special flights.
He added,“Till now, PIA has brought around 17 million doses of Sinopharm and 40 million doses of Sinovac and CanSino vaccines from China to Pakistan.”
It is worth mentioning that the government under its mass vaccination drive has set a target to vaccinate 75 million population by end of 2021.
So far, over 32 million vaccines have been administered with a maximum of 1.07 million doses in a day on August 02.
Chinese vaccines namely Sinopharm, Sinovac and CanSino besides other vaccines are being used in the mass vaccination drive.
The health authorities launched the nationwide vaccination drive with around a million doses of Sinopharm vaccine donated by China, starting with older people and frontline healthcare workers, in March this year.
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PIA shows 46% revenue decline in half year
KARACHI: Pakistan International Airlines Corporation Limited on Friday announced 46 per cent decline in net revenue for the half year ended June 30, 2021.
The airline recorded net revenue of Rs27.64 billion for the half year (January – June) 2021 as compared with Rs51.47 billion in the same half of the last year.
However, the losses of the company reduced sharply during the period. The net losses of the airline came down to Rs25 billion for the half year ended June 30, 2021 as compared with Rs36.536 billion in the corresponding half of the last year.
The airline said the cost of services reduced to Rs36.84 billion for the half year under review as compared with Rs55.7 billion in the same half of the last year.
Out of cost of services, the cost on aircraft fuel fell to Rs7.63 billion as compared with Rs14.65 billion.
Meanwhile, other costs of services, including salaries, wages and allowances also came down to Rs29.21 billion in the first half of 2021 as compared with Rs41 billion in the same half of the last year.
Administrative expenses fell to Rs2.59 billion when compared with Rs3.09 billion.
The airline made an exchange gain of Rs1.32 billion as compared with loss of Rs9.76 billion in the same half of the last year.
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PIA escapes financial losses in Airbus A320 crash
KARACHI: Pakistan International Airlines (PIA) has escaped from any financial loss as a result of Airbus A-320 that was crashed on May 22, 2020 a claimed 97 lives, according to annual result for the period ended December 31, 2020.
According to the report, the Airbus A-320 was crashed in an accident on May 22, 2020. The said aircraft was included in the fixed assets of the company as right of use asset (RoUA) in accordance with IFRS 16 ‘Leases’.
“The management determined that there is no significant financial exposure to the company as a result of the above incident as the above aircraft was on dry lease from GE Capital Aviation Services (GECAS),” according to the report.
“As per the agreement, insurance for the aircraft was claimed out by the company, however, the settlement of the insurance amount will be directly between the insurance company and GECAS with no significant financial exposure to the company,” it added.
Accordingly, the company has derecognized the RoUA and its corresponding lease liability amounting to Rs155.77 million and Rs329.62 million respectively and the remaining balance (a gain of Rs173.85 million) is credited to statement of profit or loss on termination of lease, the report said.
“Furthermore, the company [PIA] has obtained passenger and third party liability insurance under which all the affected families and third parties on ground were eligible a compensation from the insurance company and the company is not liable for an further claims,” it added.
The background of the unfortunate accident revealed that Pakistan International Airlines (PIA) flight PK 8303 was a scheduled domestic flight from Alama Iqbal International Airport Lahore to Jinnah International Airport Karachi.
On May 22, 2020, the Airbus A320 in use crashed in Model Colony, a densely populated residential area of Karachi a few kilometers from the runway, while on a second approach after a failed landing.
Of the 91 passengers and eight crew on board the aircraft (99 total on board, 91 lost their lives and two passengers survived with injuries.
Eight people on the ground were also injured in the accident, one of them later succumb to her injuries. The PIA management expressed deep sorrow and grief over tragic incident and stand firmly with the families of the deceased passengers.
Immediately, Emergency Response Center (ERC) and Station Emergency Coordination Room (SECR) were activated and Emergency Response Planning (ERP) Volunteer as well as PIA scouts were deployed to provide all possible assistance to the grieving families.
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PIA offers 10pc discount on domestic, international tickets to Karachi Chamber
KARACHI: Pakistan International Airlines (PIA) has announced a 10 percent discount on air tickets of both domestic and international flights to members and staff of Karachi Chamber of Commerce and Industry (KCCI).
The discount is available to members and staff at newly PIA outlet inaugurated at KCCI premises, a statement said on Wednesday.
The discount is available at 10 percent on domestic and international flights not only to KCCI members and staff but also their family members.
In this regard, a Memorandum of Understanding (MoU) was signed by Chief Executive Officer (CEO) PIA Air Marshal Retd. Arshad Malik and President KCCI M. Shariq Vohra at a ceremony organized at KCCI which was also attended by Chairman Businessmen Group (BMG) & Former President KCCI Zubair Motiwala, Senior Vice President KCCI Saqib Goodluck, Vice President Shamsul Islam Khan, Former Presidents Younus Muhammad Bashir, Shamim Ahmed Firpo & Junaid Esmail Makda and others.
Speaking on the occasion, CEO PIA Arshad Malik paid glowing tribute to Late Siraj Kassam Teli for his exceptional services to the country, particularly the business & industrial community.
“Because of his splendid work, Siraj Teli would go down in the history and will always be remembered. He was a fatherly figure who fearlessly raised voice for the rights of business community and Karachi city,” he added.
He informed that PIA has recently airlifted a cargo of kinnow and was particularly focused on providing cargo facilities at competitive rates hence, KCCI members should use PIA’s cargo service for sending their cargoes at corporate rates which will be kept lower than the market rates. “You decide the price for cargo and we will live up to it,” he added.
Arshad Malik was of the opinion that the revival of PIA was a challenging task in 2019 but by taking the ownership along with the commitment and sincere efforts, the performance of the national flag carrier was improved however, the airline suffered badly due to COVID-19 pandemic.
He further informed that PIA management was taking every possible step for the betterment of the airline and in this regard, a Voluntary Separation Scheme (VSS) with attractive package was given to some 2000 employees.
“Segregation of core and non-core groups was likely while the aircrafts acquired on expensive lease were being returned and replaced with better aircrafts at reasonable rates,” he added.
In response to a suggestion pertaining to commencement of direct flights to northern areas, he said that although PIA was capable of providing direct flight but it was currently not possible due to lack of runways and refueling facilities in many areas of the country.
“Keeping in view the potential of Gwadar, the number of direct flights has been raised to three from one as this city is going to become a major hub of economic and financial activities.”
Chairman BMG Zubair Motiwala, in his remarks, appreciated all the efforts being made by CEO PIA to improve the performance of national flag carrier which has to be improved to such an extent that PIA thrives and flies high not only in the skies of Pakistan but also the rest of the world which can become possible only if the government facilitates and provide conducive environment with a focus to restore the lost glories of the national flag carrier.
Keeping in view the performance of other local airlines, he advised CEO PIA to double the number of domestic flights with same kind of treatment and services which were being provided by PIA’s competitors that would surely yield positive results.
“We are patriotic Pakistanis and we want to help and support PIA so we would prefer to fly to our destinations via national flag carrier but PIA must improve its services as per international standards,” he added while acknowledging the timely arrival and departure of PIA flights soon after Arshad Malik assumed charge as CEO PIA.
Chairman BMG further appealed the entire business and industrial community to come forward, support and cooperate with PIA in whatever way they can so that PIA could come out of crises and attains success.
In his welcome address, President KCCI Shariq Vohra, while appreciating the efforts being made by CEO PIA to pull the national flag carrier out of crises, stressed the need to make collective efforts and aggressively promote the good things happening at PIA while KCCI, with an impressive membership base, can become a good partner of PIA in various fields.
He was of the opinion that the airlines business has been growing in Pakistan as AirSial, AirBlue and SereneAir have been enjoying thriving businesses with aircrafts flying at full capacity therefore, PIA must also focus on improving the market share by offering its service at competitive rates through cost reduction. “In this regard, the domestic industry has to be integrated with PIA which would certainly reduce cost and save valuable foreign exchange,” he added.