Pakistan International Airlines (PIA) will shut all its international and domestic operations, if its flights for Saudi Arabia, China, Gulf and Europe sectors do not resumed in a couple of months.
Digital news outlet Business Recorder reported that following the complete suspension of PIA’s flight operations to Saudi Arabia, China, Doha, Kuwait and Milan due to coronavirus spread, the Finance Division has decided to call-off all operations if the aforementioned flights are not resumed in the coming months.
The media outlet reported the officials of PIA as saying that the airplane service has so far incurred a revenue loss of over Rs1.7 billion only on Saudi Arabia sector due to ban on the entry of Umrah pilgrims by Saudi government for last 19 days.
“If all international flights are shut down, then the estimated net revenue loss will escalate to Rs6.34 billion per month,” the official said. Therefore, “the airline, which is already carrying Rs17 billion loss for 2019, will have to soak up additional financial loss of Rs12 billion per month in case of complete international flights suspension,” he added.
Moreover, sources within PIA said that the management was presently not in a position to take tangible decisions as the airline was running without CEO. They urged the authorities concerned to appoint chief executive of the airline on urgent basis to secure a national asset from bankruptcy.
Digital news outlet Business Recorder reported that following the complete suspension of PIA’s flight operations to Saudi Arabia, China, Doha, Kuwait and Milan due to coronavirus spread, the Finance Division has decided to call-off all operations if the aforementioned flights are not resumed in the coming months.
The media outlet reported the officials of PIA as saying that the airplane service has so far incurred a revenue loss of over Rs1.7 billion only on Saudi Arabia sector due to ban on the entry of Umrah pilgrims by Saudi government for last 19 days.
“If all international flights are shut down, then the estimated net revenue loss will escalate to Rs6.34 billion per month,” the official said. Therefore, “the airline, which is already carrying Rs17 billion loss for 2019, will have to soak up additional financial loss of Rs12 billion per month in case of complete international flights suspension,” he added.
Moreover, sources within PIA said that the management was presently not in a position to take tangible decisions as the airline was running without CEO. They urged the authorities concerned to appoint chief executive of the airline on urgent basis to secure a national asset from bankruptcy.