PIA Successfully Cut Operating Losses To ₨. 680 Million In FY21

PIA’s managing losses were slashed to ₨. 680 million from a whopping ₨. 7 billion in the fiscal year 2020-21.

Is PIA really going to resume International Flight Operation from April 4?Pakistan International Airlines (PIA) has collected ₨. 97.8 billion in the fiscal year 2020-21 (FY21).

This was revealed by the Minister of Finance, Shaukat Tarin, while disclosing the Pakistan Economic Survey 2021 on Thursday.

PIA’s managing losses were slashed to ₨. 680 million from a whopping ₨. 7 billion in the fiscal year 2020-21.

Meanwhile, like all airlines undergoing losses due to restraints brought on by the COVID-19 pandemic, the national airline’s flight operations were affected too as scheduled flight operations to most of the regions of the country and the globe remained suspended.

Nevertheless, it is pertinent to mention that the national flag carrier conducted special flights to facilitate stranded Pakistanis abroad.

According to the economic survey, the number of PIA aircraft declined but its routes rose with its seat factor coming down to 74% from 81%.

Moreover, the airline increased governance and concentrated on discipline by taking action against employees with disciplinary concerns and filling in loopholes with more reliable internal controls.

The national airline also brought in VSS (Voluntary Separation Scheme) to cut running expenses in addition to decreasing salaries for six months with a resultant saving of ₨. 770 million.

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