PIA to have a new look by April 2015: chairman

Pakistan International Airlines (PIA) would start replacing some of its fleet and revamp the present planes as well as evaluate the existing routes and would open new destinations by expanding its network.
It was stated by Lt Gen (R) Asif Yasin Malik, Chairman, Pakistan International Airlines (PIA) while addressing the business community at Islamabad Chamber of Commerce and Industry (ICCI). Senator Mohsin Gilani, General(R) Ali Abbas, Faisal Mushtaq and Agha Ali Akhtar Pathan were also present on the occasion.
He said that 54% of PIA’s revenue was spent on fuel consumption while 12%-14% was the establishment cost, however, PIA is operating profit since October 2012 as well as its share in stock exchange market has increased by 26% due to efficient monitoring system. He said that 12 plane are been taken on lease because of higher average fleet of existing planes. Lt.Gen. (retd) Asif Yasin Malik further informed that under the PIA Revival Plan each operational area and department is under study and soon major decisions would be in place to obtain greater potential needed for the turnaround of the airline. Wrong aircraft for the wrong destination was the main reason of incurring losses but PIA would have a new look by April-2015, Chairman added.
Speaking on the occasion, Mr.Zafar Bakhtawari, President ICCI Pakistan International Airlines should reduce its fuel cost through fuel efficiencies, capacity/route rationalization and deployment of suitable aircrafts for the routes and passenger load, proper maintenance.
He said that most of the economic issues of our economy would be solved if department of PIA would start working efficiently as PIA losses had increased to Rs.150 billion while Rs.600billion were the accumulated losses of other Public Sector enterprises that were more than our defense budget of Rs.545billion which need to be monitor by adopting good governance.
ICCI President said that PIA should conduct a study to increase its destinations and initiate direct flights to those destinations which are potential market for Pakistani products that would ultimately help our country to get rid of isolation.