Islamabad, May 11, 2024 – Pakistan International Airlines (PIA) is gearing up to spread its wings to Europe, marking a significant milestone in its service expansion.
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PIA Privatization Final Schedule Ordered by PM Shehbaz Sharif
Islamabad, March 6, 2024 – In a significant development, Prime Minister Shehbaz Sharif has called for the swift implementation of the final schedule for the privatization of Pakistan International Airlines (PIA).
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FBR Freezes Bank Accounts of National Flag Carrier for Rs 2.76 Billion Recovery
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) took stringent action on Wednesday by freezing all bank accounts of Pakistan International Airlines (PIA), the national flag carrier, in an effort to recover an outstanding tax amount of Rs 2.76 billion.
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Kakar Directs Acceleration of Privatization Process for PIA
Islamabad, October 12, 2023 – Caretaker Prime Minister Anwaar-ul-Haq Kakar has issued directives to accelerate the privatization process of Pakistan International Airlines (PIA) to prevent further financial losses to the national exchequer.
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FBR Files Complaint of Government Fund Misappropriation Against Senior PIA Officials
Karachi, August 31, 2023 – The Federal Board of Revenue (FBR) has officially registered a complaint against senior officials of Pakistan International Airlines (PIA) for alleged misappropriation of government funds, sources said on Thursday.
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Pakistan’s National Flag Carrier Faces Dire Future Without Corrective Measures
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.