PIA’s financial restructuring being prioritised: CEO

RAWALPINDI: The financial restructuring of Pakistan International Airlines (PIA), a new fleet of aircraft, staff training and new flight destinations are being prioritised, PIA Chief Executive Air Marshal retired Arshad Malik said on Wednesday.

Mr Malik was speaking during a visit to the Rawalpindi Chamber of Commerce and Industry (RCCI). He was accompanied by Chief Commercial Officer Ali Tahir, Regional Coordinator Sher Ali and Passenger Sales Manager Waqas Malik.

RCCI President Nasir Mirza, Group Leader Sohail Altaf, Senior Vice President Osman Ashraf, Vice President Shahraiz A Malik, former presidents, members of the executive committee and chamber members were also present.

Mr Malik said that in 2019, the PIA went into gross profit for the first time in eight years. The most important challenge is the old debt of Rs450 billion, for which a financial plan is being worked out.

“The PIA is facing serious challenges due to the corona epidemic and licensing issue. It is the combined responsibility of all entities, including the business community, to come forward and play their due role in rescuing the national airline from crisis,” he said.

He added that the RCCI’s efforts to promote trade activities and improve Pakistan’s image abroad are commendable. The PIA will also give discounts for the convenience of RCCI members, he said.

“The chamber will also be provided other incentives, including special discounts and a corporate package for the Gwadar Business Conference and exhibitions in Afghanistan,” he said.

Mr Mirza said the PIA is the national airline and also Pakistan’s national identity all over the world. The business community will play its part in overcoming this challenge and assured full support in this regard, he said.

He added that the chamber organizes exhibitions and business conferences abroad and within Pakistan, and they prefer to travel by PIA.