Solution of PIA Financial Problems Will Take Time - CEO PIA

Discuss issues and news related to PIA, Pakistani airlines and Pakistan's civil & military aviation.
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Abbas Ali
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Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by Abbas Ali »

CEO PIA Air Marshal Arshad Malik talking to news media said:

Solving PIA financial problems will take time.

There's delay in payment of PIA employees' salaries due to airline's financial woes.

There's also delay in payments by PIA to Pakistan State Oil (PSO) for the supply of jet fuel.

Induction of new/modern aircraft required to bring PIA out of losses.

Help from the Government of Pakistan is needed for buying new aircraft for PIA.

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A310
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by A310 »

This excuse of a man is military induced poison who doesn’t know a thing about his job. Haven’t we heard the same thing over and over and over again? How is this one any better?
GEnx
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by GEnx »

A310 wrote: Tue Oct 15, 2019 5:16 pm This excuse of a man is military induced poison who doesn’t know a thing about his job. Haven’t we heard the same thing over and over and over again? How is this one any better?
If we have heard the same thing over and over gain then we should also realize by now that PIA cannot even survive without financial assistance yet alone grow. Btw whatever he's said, at least he is not responsible for all the mess created by PPP and PMLN governments. And let's admit that he got this airline in extremely bad shape and he has instigated some discipline in this organization which the previous governments could not even dream of. But here is the real part. No matter how much discipline and professionalism you bring to PIA, it will still need big bailouts and financial assistance from government to buy new planes.
Amaad Lone
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by Amaad Lone »

PIA has crippling debt, just like the state of Pakistan. Pakistan today is using half its revenue to pay off interest on the debt piled up in the last ten years.

PIA has 300 billion in debt and needs to pay around 2.5 billion a month in interest payments.

PIA cannot survive like this with every four months a government handout of 15 billion.

Plus now IMF has forbidden it to pay PIA anymore money as a cap has been set on the sovereign guarantees the government can issue for PIA.

Only solution is a huge investment and equity injection and this is not going to happen with the current set up.

Just like PanAm, Varig, Malev and latest Thomas Cook and Jet Airways PIA is destined for bankruptcy.
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Abbas Ali
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by Abbas Ali »

Government of Pakistan due to poor financial situation is unable to help PIA in acquiring new aircraft, says airline's CEO Air Marshal Arshad Malik.

https://urdu.arynews.tv/ceo-pia-air-mar ... hts-to-us/

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Amaad Lone
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by Amaad Lone »

The new CEO needs a Facebook account he loves to get photographed and shows up everywhere where he feels the press is going to be.

Really man is this your job to get photographed and live on government handouts.

PIA planes are in horrible condition and its gone from being a second rate airline to third rate still having the 1990s cabins and bathrooms.

PIA should be closed down, and let Qatar Airways start a Pakistani airline, with Qatar Airways having a lot of new planes not flying they would be happy to move some of its fleet to Pakistan.
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Amaad Lone
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Re: Solution of PIA Financial Problems Will Take Time - CEO PIA

Post by Amaad Lone »

I think the most import number here would be the load factor has it gone up?

During the last 15 year the load factor for passenger has been between 65-70%. Has that improved, because if it has not, then what has this management manage to do in the last 12 months??
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