Deputy Managing Director Captain Junaid Younis said that the reduction in fares is a New Year's present from the national carrier to the people of Pakistan.
The night coach scheme will allow PIA to earn revenue amounting to Rs3 to 4 million, from flights between Lahore and Islamabad.
Younis also said that PIA soon plans to start night coach from Multan as well.
Earlier it was reported that PIA had suffered losses worth Rs100 billion over the past three years.
Defence Minister Ahmed Mukhtar had also said that the government was reviewing the fleet loans. It was also working on capital financing cost and a plan was being made to reduce the interest rate, he added.
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