ISLAMABAD: The Pakistan International Airlines (PIA) has liabilities worth Rs406 billion with assets at approximately Rs111 billion, a local media outlet reported on Friday.
The details were presented in a report submitted by the PIA over a suo motu case, explaining that the airlines’ losses stood at Rs356 billion.
The report adds that the PIA is only capable of operating with government assistance, is suffering from losses on most of its routes and is overstaffed.
The airline is incapable of turning around its performance owing to low competency at senior levels, poor HR practices and political appointments in the organisation.
The report urges the court to allow the national airlines to recruit well trained and professional employees to improve performance.
