PIA to expedite efforts to restore flight operations in Europe, UK, USA

ISLAMABAD: Pakistan International Airlines (PIA) has decided to expedite efforts to restore flight operations in Europe, United Kingdom, and United States of America.

The decision was made after PIA authorities briefed Federal Minister of Aviation Khawaja Saad Rafique on the efforts by the national airline to restore suspended flight operations.

During the briefing, PIA management vowed to multiply efforts to resume flight operations to the United Kingdom, Europe and the United States.

In this regard, it has been decided to send a team of Pakistan Civil Aviation Agency (PCAA) officials to Brussels. CAA and PIA will inform the European Aviation Agency on steps taken to resume operation.

A PIA spokesperson said a team of the national airline and Ministry of Aviation will leave for United States in September next month. The team will discuss air security, safety and operational matters with the US authorities.

The minister was told PIA has decided to immediately send a team to the United Kingdom to secure flight landing slots at Heathrow Airport, London.

Aviation Minister Khawaja Saad Rafiq instructed PIA to transport National Disaster Management Authority (NDMA) relief items free of cost for relief of flood victims. He said all national institutions have to do their duty together for the relief and rehabilitation of the flood victims.

Earlier the Pakistan International Airlines Corporation Limited (PIACL) announced its financial results for the half-year ended 30 June 2022.

The flag carrier has incurred a staggering loss of Rs43.48 billion, increasing by 64 percent compared to a loss of around Rs26.53 billion in the same period last year, according to a filing at the Pakistan Stock Exchange (PSX).

According to the PIAC’s consolidated results, its net revenue went up by 160 percent to Rs73.89 billion in January-June 2022 against Rs28.33 billion in the same period of last year.

The cost of services soared to Rs76.49 billion, compared with Rs37.25 billion last year. The airline reported a gross loss of Rs2.6 billion compared to Rs8.92 billion last year, which is down by 71 percent.

PIA is still suffering from liquidity issues that have increased borrowings and raised the finance cost by 78.16 percent to Rs21.70 billion from Rs12.18 billion in the half year. This increase was also influenced by a hike in interest rates.