Karachi, December 23, 2012 (PPI-OT): Pakistan International Airlines has achieved operating profit of Rs.738 million in November 2012 as compared to losses of Rs.1272 million in the corresponding period last year despite difficult economic conditions, fierce competition, rising fuel prices, foreign exchange losses and law and order situation.
Consecutively for the third month, there is significant increase in the airline’s revenue income due to the dynamic policies of the present management hence since September 2012 the national carrier has been achieving operating profits.
The airliner faced a tough year yet successfully pushed the airlines business forward in a number of different areas. Credit for the operating profit for the third month in a row attributed to the employees for making the airline thrive despite challenging times. Managing Director, Muhammad Junaid Younus believes that this is a testament of the efforts of everyone connected with the airline.
MD PIA explained that this year PIA made successful hajj operation and carried 98,000 hajjis achieving 96 percent flight regularity and punctuality winning awards from Saudi Civil Aviation Authorities. Furthermore, In the past two months PIA’s operational profits demonstrates that the airline is able to achieve higher levels of profitability.
MD PIA said looking forward to the next year, there exists opportunity to continue on improving the financial health of the airline. It is satisfying to see the airline making progress and these efforts are laying the foundation for the company’s future. He added.
Junaid Younus said that the focus of the present management is on cost reduction, improvement, and expansion in Network, yield and revenue. Robust business plan for transformation is the roadmap for going forward. It will be a long, winding and difficult journey and will require unleashing the talents of all the employees and support and patronage of the valuable customers. The business transformation plan will transform the Airline into a strong, dynamic and vibrant institution, aggressively tackling new opportunities and absorbing external shocks. MD PIA emphasized.
He further added that inducting newer aircrafts in PIA fleet would be the turning point for the airline as it will be the foundation of being able to deliver cost cutting on fuel and improve punctuality and regularity bringing back the confidence of the customers.
MD PIA expressed that these aircraft should have been introduced more than a decade back since the center of PIAs network is short haul operations (within four hours) which comprises 64 percent of total operations, the newer aircraft if brought earlier would have been cardinal for the airlines financial conditions revival.
For more information, contact:
S. Sultan Hasan
General Manager, Public Affairs
Pakistan International Airlines (PIA)
Tel: +9221 9904 0000
Fax: +9221 3457 2225, 3457 0419