Mismanaged firm: PIA posts Rs401m loss in Hajj operations
PIA quoted Rs108,500 as the fare for the Hajj packages but the Ministry of Religious Affairs had decided to go lower.
PHOTO: FILE
ISLAMABAD:
The Pakistan International Airlines (PIA) suffered financial losses to the tune of Rs401 million in Hajj operations 2012, State Minister for Defence Sardar Saleem Haider said on Tuesday.
Answering the question of Begum Najma Hameed in Upper House, he said PIA had quoted Rs108,500 as the fare for the Hajj packages but the Ministry of Religious Affairs had decided to go lower, which resulted in the financial losses.
PIA was recovering from its ailing health. A total of nine aircraft were purchased on dry lease, out of which four will arrive in April, while the remained will by December. PIA had been posting operational profits for the last five years. Currently, PIA has 38 aircrafts out of which 25 planes are in service. PIA had recorded cumulative losses of Rs141 billion from 2002 to 2012.
Published in The Express Tribune, January 23rd, 2013.
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The Pakistan International Airlines (PIA) suffered financial losses to the tune of Rs401 million in Hajj operations 2012, State Minister for Defence Sardar Saleem Haider said on Tuesday.
Answering the question of Begum Najma Hameed in Upper House, he said PIA had quoted Rs108,500 as the fare for the Hajj packages but the Ministry of Religious Affairs had decided to go lower, which resulted in the financial losses.
PIA was recovering from its ailing health. A total of nine aircraft were purchased on dry lease, out of which four will arrive in April, while the remained will by December. PIA had been posting operational profits for the last five years. Currently, PIA has 38 aircrafts out of which 25 planes are in service. PIA had recorded cumulative losses of Rs141 billion from 2002 to 2012.
Published in The Express Tribune, January 23rd, 2013.
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