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PIA losses jump to Rs 416 bn: Senate told

maithil

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Minister for Aviation Division Ghulam Sarwar Khan on Friday informed the Senate that Pakistan International Airlines (PIA) losses have surged to Rs 416 billion adding that efforts were being made to acquire aircrafts on dry leases to enhance flight operations.

Responding to various questions during Question Hour, the minister said only non-commercially viable routes were closed while viable ones were being opened.

He said domestic and international flights were reduced due to shortage of aircrafts. Currently, PIA was operating its flights on 18 international routes including UK, Italy, France, Spain, Norway, Denmark, Saudi Arabia, Oman, UAE, Iraq, Qatar, China, Malaysia, India, Afghanistan, Bangladesh, Thailand and Canada, he said.

To a supplementary question, the minister said construction of airport in Mansehra was mere a political announcement and no funds were allocated for it.

He said more flights would be operated for Quetta after acquiring aircrafts besides resuming air-traffic to Saidu Sharif.

To another question, the house was told that the Chinese government had agreed to provide 100 per cent grant Rs.35,270 million for the construction of new Gwadar International Airport. The constructed work is expected to begin by June, 2019 by the Chinese contractor and the project is scheduled to be completed in 36 months.

To a separate question, Ghulam Sarwar said state of the art baggage handling system had been installed at Islamabad International Airport. The number of reclaim baggage belts was six which were quite sufficient in number.

There was no need to increase the number of belts as the present baggage belts were sufficient in number to cater the baggage handling, he said.

http://dunyanews.tv/en/Business/490968-PIA-losses-jump-to-Rs-416-bn-Senate-told/
 
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I think currently they are not losing money.??? Correct me if am wrong.

Rs 416 Bn = US$ 2.94 Bn. That's really bad for a small airline.

Few years back 2 middle eastern airlines were interested in acquiring it but our government decided to keep it.
My suggestion is to sell it as soon as possible. Government should immediately sell 60% of the shares to private sector.
 
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They are not losing money now but they have accumulated a lot
Debt Nawaz Zardari loot for the last 10 years
 
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What about the earlier news of 0% loss?

Net losses, meaning total over some period of time. At current rate, PIA loses Rs 37 billion.

They are not losing money now but they have accumulated a lot
Debt Nawaz Zardari loot for the last 10 years

ok wait
didn't they break even just a few days ago, wth?
That is operational break Even, meaning operating costs=operating revenue.
But an airline also has many non operation expenses and interest payments for loans.

Air India also has same problem, it has got operational break even in 2016 but still faces big problem of non operatings costs and interests payments .
 
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PIA was showing zero loss few months back as per GOV/PIA management .....
 
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