Cost effective: PIA to acquire fuel-efficient planes

The board briefed shareholders about the annual accounts of the company.

ISLAMABAD: Pakistan International Airlines (PIA) is in the process of acquiring 12 narrow body fuel efficient aircraft for its fleet, said senior board member Pakistan International Airlines (PIA) Hussain Lawai while presiding over the 56th annual general meeting held at Karachi on Wednesday. Managing Director PIA, Muhammad Junaid Yunus and various board members were also present at the occasion.

The fuel efficient planes will go a long way in reducing costs, as presently the fuel cost account for 60% of the company’s total costs, compared to the industry average of 35%. Lawai said that the first four newer narrow body aircraft will be acquired on lease with its own resources, with no further loans.

Earlier, Junaid Yunus in his address said that the airline is in an urgent need to induct new aircraft in its fleet to meet demand and capacity. The board later briefed shareholders about the annual accounts of the company.

Published in The Express Tribune, May 30^th, 2013.

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