T-Faz
RETIRED MOD
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KARACHI: PIA achieved operating profit of Rs 2.84 billion for the year 2009 after four years of operating losses, operating loss for the year 2008 was Rs 7.3 billion. Managing
Director PIA, Captain Muhammad Aijaz Haroon informed the Shareholders at the 53rd Annual General Meeting (AGM) of PIA on Saturday.
MD PIA said the year 2009 proved to be a challenging year for the national flag carrier as global recession continued to widen financial crisis. Globally, airlines have recorded dips in passenger loads, cargo loads and yields. Higher inflation in the country also exerted pressure on the cost structure of the airline. He added.
He said PIAs after-tax financial losses decreased to Rs 5.82 billion in 2009 from Rs 36.14 billion in 2008. The airlines revenue increased by 6.4 percent, yield by 7 percent, and the excess baggage revenue target of Rs1 billion was surpassed by Rs 45 million.
PIAs Hajj Operation 2009-2010 was conducted with PIAs own fleet. Flights were operated directly from Karachi, Islamabad, Lahore, Peshawar and Quetta. PIA has begun direct Hajj flights from Sialkot as well. Total of 118,000 hujjaj (pilgrims) traveled to the holy land and got back on PIA aircrafts with a technical reliability of 99.5 percent.
Moreover, Saudi Civil Aviation Authorities awarded a shield to PIA for distinguished passenger handling services at Jeddah and Madinah Airports during last Hajj. MD PIA added.
PIA has successfully adopted e-ticketing. 99 percent of PIA network has been shifted to electronic ticketing from paper ticketing. Web ticketing has been introduced for major domestic flights and over 60 percent of all international stations were operational for web ticketing in the year 2009. Similar arrangements are under way for the remaining stations.
PIA adopted strict fraud detection and prevention methods for e-ticketing through software tool developed in-house, for which the airline was presented an award at the Sabre Global Conference in USA, he added.
Whereas, PIA initiated continuous improvement process such as 6 sigma and lean manufacturing to streamline operations to reduce costs. The airline continued to reap the benefits of the CF6-80C2 overhaul initiated in 2008, this saved PIA $20 million during the year. During 2009, PIA engineering obtained certification from regulatory authorities of Qatar, Indonesia and Zimbabwe for providing engineering services to third party customers to enhance revenue. Travel for tourism to Pakistan remained unfavorable by the foreigners due to grim law and order situation within the country. Still, PIAs overall capacity and passenger traffic variations are better than many airlines, MD PIA explained.
He said the product quality of the airline both in domestic as well as international traffic has enhanced. Two new flights to Barcelona and Frankfurt started while additional frequencies of flights to Kuala Lumpur and Kathmandu have been added from Islamabad.
Daily Times - Leading News Resource of Pakistan
Finally,
.
Director PIA, Captain Muhammad Aijaz Haroon informed the Shareholders at the 53rd Annual General Meeting (AGM) of PIA on Saturday.
MD PIA said the year 2009 proved to be a challenging year for the national flag carrier as global recession continued to widen financial crisis. Globally, airlines have recorded dips in passenger loads, cargo loads and yields. Higher inflation in the country also exerted pressure on the cost structure of the airline. He added.
He said PIAs after-tax financial losses decreased to Rs 5.82 billion in 2009 from Rs 36.14 billion in 2008. The airlines revenue increased by 6.4 percent, yield by 7 percent, and the excess baggage revenue target of Rs1 billion was surpassed by Rs 45 million.
PIAs Hajj Operation 2009-2010 was conducted with PIAs own fleet. Flights were operated directly from Karachi, Islamabad, Lahore, Peshawar and Quetta. PIA has begun direct Hajj flights from Sialkot as well. Total of 118,000 hujjaj (pilgrims) traveled to the holy land and got back on PIA aircrafts with a technical reliability of 99.5 percent.
Moreover, Saudi Civil Aviation Authorities awarded a shield to PIA for distinguished passenger handling services at Jeddah and Madinah Airports during last Hajj. MD PIA added.
PIA has successfully adopted e-ticketing. 99 percent of PIA network has been shifted to electronic ticketing from paper ticketing. Web ticketing has been introduced for major domestic flights and over 60 percent of all international stations were operational for web ticketing in the year 2009. Similar arrangements are under way for the remaining stations.
PIA adopted strict fraud detection and prevention methods for e-ticketing through software tool developed in-house, for which the airline was presented an award at the Sabre Global Conference in USA, he added.
Whereas, PIA initiated continuous improvement process such as 6 sigma and lean manufacturing to streamline operations to reduce costs. The airline continued to reap the benefits of the CF6-80C2 overhaul initiated in 2008, this saved PIA $20 million during the year. During 2009, PIA engineering obtained certification from regulatory authorities of Qatar, Indonesia and Zimbabwe for providing engineering services to third party customers to enhance revenue. Travel for tourism to Pakistan remained unfavorable by the foreigners due to grim law and order situation within the country. Still, PIAs overall capacity and passenger traffic variations are better than many airlines, MD PIA explained.
He said the product quality of the airline both in domestic as well as international traffic has enhanced. Two new flights to Barcelona and Frankfurt started while additional frequencies of flights to Kuala Lumpur and Kathmandu have been added from Islamabad.
Daily Times - Leading News Resource of Pakistan
Finally,
.
...... i could be profit before tax...may be a typo.
