Karachi, May 23, 2018 (PPI-OT): sPIA in the first quarter of the year 2018, has generated PKR 23.5 billion in revenues, up by PKR 1.6 billion or up by 7% when compared with the same period last year. PIA spokesman said on Wednesday. The key contributors in revenue growth are aggressive sales and marketing, increased schedule reliability (now standing at the highest ever mark of 91%), discipline and serious efforts into product improvement such as cabin cleanliness and refurbishments, food quality, changed attitudes etc. The operational cost also showed escalations and increased by PKR 1.3 Billion.
The costs escalations are primarily due to increase in fuel prices by 31% over the same period and rupee devaluation by 15% . However, the financial statements have not been approved as yet. Furthermore, the SAFA has shown confidence on the airline’s safety standards.
It would be worth mentioning here that the PIA management is committed in overall fixing and transforming the organization for not only growth but sustained profitability. Up till few months ago, the aircraft fleet, the revenue earner entities, were in unkempt state with several aircraft grounded due to lack of spares and cannibalization, broken down lavatories to dirty seats to worn out carpets. All of these have been fixed with complete cabin refurbishment of the fleet. The relentless efforts towards getting the long ground aircraft back in the air have yielded results. That is a huge feat considering the overall capability and financial situation of the airline.
Pakistan International Airlines is turning around and all the major stake holders are showing confidence on the efforts that are being undertaken in that regard. The recent release of funds by the Government of Pakistan, which was not done previously due to apprehensions as well as debt restructuring negotiations are themselves the acknowledgment of performance and initiatives. PIA spokesman said that certain elements are trying to malign the management which is committed to bring positive improvements in the airline with the combined efforts of all employees. The management and its employees are committed to bring improvements for the progress of the national flag carrier of Pakistan.
For more information, contact:
General Manager
Public Affairs
Pakistan International Airlines (PIA)
PIA Head Office Airport
Karachi
Tel: +92-21-99043823
Fax: +92-21-34572225, +92-21-34570419
Cell: +92-322-7420707
Website: www.piac.com.pk