Tag Archives: Pia

PIA desperately seeks bailout to survive

PIA desperately seeks bailout to survive

ISLAMABAD: The Pakistan International Airlines (PIA) is asking the government, saddled with its own mounting debt, to write off losses of $ 1.7 billion to save it from looming threat of bankruptcy.
In a five-year survival plan submitted to the government, PIA has promised to make cutbacks and boost its fleet in a bid to improve its fortunes, if the treasury agrees to cancel its debt and pay off other creditors.
Blaming “bad policies of the past” for accumulated losses of Rs

Saudi Haj officials fine PIA 2.4m riyals

KARACHI: Saudi Arabia’s Haj officials have fined the PIA 2.4 million riyals for not providing pilgrims with ED forms and also for the delay and cancellation of flights, Pakistan Today has learnt.
According to sources in the national carrier, PIA is now trying to settle the matter with the Saudi officials and has offered them gifts to have the fine waived off.
There was a shortage of ED forms provided by the Ministry of Religious Affairs to the pilgrims, who are supposed to

PIA suffering fewer losses

KARACHI: Pakistan International Airlines has decreased its losses to Rs 10.955 billion in the nine months ending September, 2010 compared to Rs 11.403 billion in the preceding year. According to a press statement, the total revenue PIA has earned in the nine months period ending September, 2010 was Rs. 74.360 billion, which was 16.3 percent higher than in the same period of 2009.
This was announced in the PIA Board of Directors (BOD) meeting held in Multan chaired by Federal

PIA official flouts rules to promote employee

KARACHI: The Pakistan International Airlines (PIA) finance director has promoted his ‘favourite employee’ after giving him a waiver of four years, flouting the rule that an employee must serve for seven years before being promoted to the next grade.
Thus, Finance Director Secretariat Assistant Mohammad Shareef he has been promoted from pay group III to pay group IV after a four-year waiver. Before this promotion, he was a record assistant at the Finance Director Secretariat and

Relief goods worth billions rotting away in PIA warehouses

KARACHI: Goods worth Rs 3.5 billion, sent to Pakistan by friendly countries for the assistance of the millions of displaced flood survivors, are rotting away in the import section warehouses of the Pakistan International Airlines (PIA), Pakistan Today has learnt.
“These goods include food and medicines from friendly nations, which wanted to show their goodwill towards Pakistan at its time of need,” a source privy to the matter said. “The weather has destroyed much of the goods,