PIA’s revenue grows 40pc in H1

KARACHI: Pakistan International Airlines’ (PIA) revenue has increased more than 40 percent during the past six months, while seat factor improved between 80 to 84 percent, its chief said on Friday,

PIA Chief Executive Officer Arshad Malik said the airline’s cargo space utilisation increased from 50 percent to almost 80 percent.

“PIA also enhanced its engineering capabilities and now aircraft maintenance i.e. line maintenance and Check A can be performed at Lahore and Islamabad,” Malik said in a statement. “This facility was previously only available at Karachi. This allows for saving cyclic costs and ageing of the aircraft and maintenance leading to cost savings.”

PIA CEO said two aircraft that were grounded since long were made serviceable this year. “All Boeing 777s and A320 aircraft in the fleet are operational and contributing towards revenue generation.”

Malik said a proper aircraft spares inventory planning program, which was lacking before, has also been implemented in PIA, which has reduced the aircraft downtime and better serviceability of aircraft. “Ground service equipment, which plays an important role for any airline, was left neglected in the past.”

PIA head said the ground service equipment that was left scrape has been overhauled utilising the airline’s own resources, “thus saving millions of rupees which was given to other service agencies”.

Malik said PIA renewed its IATA (International Air Transport Association) operational safety audit certification and is now in the process of attaining EASA (European Union Aviation Safety Agency) certification.

“PIA’s property assets in Pakistan and abroad were neglected and abandoned in past, this year we identified these properties in USA, Amsterdam, Iran, Tashkent and other countries and are trying to make better use of them.”

Malik said PIA has introduced 13 new routes since last 12 months, increased frequencies of flights based on demand prospects and commercial viability. Unlike the past all business decisions are now made collectively.