PIA asks for financial support

KARACHI: Pakistan International Airlines (PIA) has asked the government to approve a financial support package to ensure sustainability of the national airline. This emerged during the 326th Board of Directors meeting which was held at the carrier’s office in Lahore.

The plan will be presented to the federal government for approval after a few adjustments desired by the board are included in the proposal.

The board also urged the government to review the aviation policy to make it more equitable for all stakeholders. A level playing field for Pakistani airlines was demanded.

Directors also agreed that shareholders’ support in the form of equity injection is vital for a sustainable turnaround.

In order to cater the shortage of pilots for various aircraft, it was decided that the airline would give an option to those pilots who had reached the retirement age of 60 years to rejoin on contract basis.

The Civil Aviation Authority (CAA) of Pakistan has already allowed pilots to fly up to the age of 62 years.

The meeting was chaired by Defence Minister Chaudhry Ahmed Mukhtar.

Published in The Express Tribune, July 28^th, 2010.