PIA board approves business plan - Business Recorder

[zerbaer]

PIA board approves business plan for next year
KARACHI (December 29 2006): PIA board of directors in its 300th meeting held on Thursday at Karachi approved the airline's 2007 business plan and strategic plan for 2008-12. This was decided after detailed review of airline's 2006 performance to date in various key operational areas of sales, engineering, environment health and safety and human resource as well.

The management also presented to the board its assessment of the aviation industry environment in 2007 and beyond and considering a growing Pakistani economy, the growth PIA aims to achieve during the plan period. Overall, the plan approved provides a robust growth in revenue based on stable operating environment with ongoing improvement in the convenience and service level to the customers.

The plan covered the core objectives for HSE, increase in market share and seat factor, cost reduction, enhancement of revenues through improved marketing and other sources, improved operational performance, corporate image, brand equity, enhancement of productivity and efficiency through IT, and emergency response preparation and capabilities.

Strategic plan for next five years includes gradual induction of state-of-the-art fuel efficient aircraft, induction of leased-in aircraft for incremental business, segregation of Hajj operation from normal airline core operation, fuel hedging, value added services, expansion of routes, upgraded product and stringent economy measures to contain cost in various facets of the airline to offset hike in fuel prices. Board endorsed that adoption of proactive and aggressive business strategies would increase passenger and cargo business for higher profitability in ensuing years. Board was apprised of various initiatives already taken by management for customers' convenience, comfort and competitiveness.

The meeting was presided over by Chairman & CEO, Mr Tariq Kirmani and attended by Kamal Afsar, Mueen Afzal, Major General Mir Haider Ali Khan, Additional Secretary-Defence, Shahzad M. Husain, M. Hidayatulla Khan Khaishgi, Javed Saifullah Khan, S. Ali Raza and Farooq Rehmatullah, DG CAA.-PR

Copyright Business Recorder, 2006