Foreign banks show interest in investing in PIA for steady revenue

PIA, generally considered as a cash-bleeding company, was decided to be privatized a year ago after the protests of the masses.

KARACHI: As mentioned by PIA’s Chief, foreign banks are keen to invest in Pakistan International Airlines (PIA) in order to help improve its financials so that it can get back on track and get steady revenue.

Arshad Malik, CEO of Pakistan International Airlines, recently stated that international banks are willing to invest in the national carrier as a lot of improvements have been observed lately.

Airline’s chief told us that the losses of PIA have considerably come down, and the audit reports of 2019 make it evident.

While addressing people at the annual general conference, he said, “Seat factor has risen to 84 percent due to which both revenue and network spread are also increasing.” Two new airplanes have been recently added in the fleet of the company, he further added.

The third annual general conference of PIA was attended by various officials, including Khalilullah Sheikh, Chief Financial Officer PIA, Secretary Mohammad Shoaib, and others. The Airline’s performance in the year 2018 was an important topic of discussion in the meeting.

A new dawn in PIA’s history:

PIA, generally considered as a cash-bleeding company, was decided to be privatized a year ago after the protests of the masses.

It was additionally told in the meeting that PIA was having issues in finalizing its accounts from the last three years, but the problem has been settled now. The accounts of 2018 have also been enforced and cleared. As soon as the ongoing year comes to an end, the financial results of the airline would be compiled.

An official made a statement saying, “The shareholders appreciated PIA’s management for their acknowledgment and support. They believe in transparency for responsibly taking out the pending tasks.”

The shareholders of PIA were told about the present challenges the airline is facing. Arshad Malik said, “The biggest challenge the company was facing was that three years’ audit had not been done.”

Nevertheless, he applauded his entire team that made endless efforts in order to finalize the audit reports in the given time. Additionally, the airline chief said that he’s hopeful that the last audit report would soon be completed as well.

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  • Tomorrow night ki bat ha sialkot sy mct jany Wali pk 281jo 11:50 py fly karna Tha 1:30 tak awaam ko zaleel Kiya or phr bol diya flight cancel ho gai ha ha koi tareka in ka.

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