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LAHORE (updated on: April 30, 2009, 21:07 PST): Managing Director, Pakistan International Airline (PIA), Capt Muhammad Aijaz Thursday said the national carrier has earned Rs two billion operating profit during the year 2008-9.
"The airline has earned Rs 21.2 billion revenue this year as compared to last year's 17 billion rupees, showing 19% increase," he said while addressing the "Meet-the-Press" programme here at Lahore Press Club.
He said that the national airline was heading towards profit due to cut in expenditures and decrease in fuel prices in the international market during the last one year.
He said that the PIA management was working on a plan to make it a profitable institution.
"The plan is under discussion and it will be given final shape next month," Capt Aijaz added.
About the strike of PIA pilots, he said that working duration of the pilots has been increased from 50 hours to 70 hours so this step will help in enhancing their income.
To a question about increase in Hajj fare, he said that this year PIA has decided to decrease the fare as prices of fuel decreased in international market.
"PIA raised the fare during the last four years due to increase in fuel prices in international market," he added.
He said Pakistan could compare its Hajj fare with India as Indian government is providing subsidy to Muslim community in this regard.
The government was not providing any financial aid and grant to the national airline, the MD said while responding to another question.
"PIA has to pay a hefty amount in the shape of taxes on loans borrowed by the previous management from the banks during 2004-7," he said.
The MD also highlighted various steps taken for enhancing the productivity of the institution.
Later, President LPC awarded shield to the MD, PIA
PIA earns Rs 2bn operating profit during 2008-9 : Business Recorder | LATEST NEWS
we are finally in the green zone
"The airline has earned Rs 21.2 billion revenue this year as compared to last year's 17 billion rupees, showing 19% increase," he said while addressing the "Meet-the-Press" programme here at Lahore Press Club.
He said that the national airline was heading towards profit due to cut in expenditures and decrease in fuel prices in the international market during the last one year.
He said that the PIA management was working on a plan to make it a profitable institution.
"The plan is under discussion and it will be given final shape next month," Capt Aijaz added.
About the strike of PIA pilots, he said that working duration of the pilots has been increased from 50 hours to 70 hours so this step will help in enhancing their income.
To a question about increase in Hajj fare, he said that this year PIA has decided to decrease the fare as prices of fuel decreased in international market.
"PIA raised the fare during the last four years due to increase in fuel prices in international market," he added.
He said Pakistan could compare its Hajj fare with India as Indian government is providing subsidy to Muslim community in this regard.
The government was not providing any financial aid and grant to the national airline, the MD said while responding to another question.
"PIA has to pay a hefty amount in the shape of taxes on loans borrowed by the previous management from the banks during 2004-7," he said.
The MD also highlighted various steps taken for enhancing the productivity of the institution.
Later, President LPC awarded shield to the MD, PIA
PIA earns Rs 2bn operating profit during 2008-9 : Business Recorder | LATEST NEWS
we are finally in the green zone
