Pakistan International Airlines (PIA) CEO Air Marshal Arshad Malik revealed in a meeting with Imran Khan that his company has been making a loss of Rs. 6 billion every month since the start of the coronavirus pandemic.
The coronavirus pandemic has resulted in a massive decrease in air-travel as countries have imposed strict border controls and consumers have proven reluctant to travel in enclosed spaces with strangers. Additionally, the recent tragic 22nd May plane crash resulted in strong criticism being levelled against the company by some circles and may have contributed to a decrease in trust and brand loyalty from consumers.
Prime Minister Imran Khan said that PIA had to adopt more austere policies and focus on increasing income and financial resources so as to upgrade the existing fleet of airplanes. The Prime Minister added that the loss may be counteracted if airlines focused on domestic and foreign assets rather than burdening the general public.
PIA’s CEO also presented a plan regarding expected reforms and restructuring at the meeting, which included the Federal Aviation Minister, the Information and Broadcasting Minister, the Advisor to PM on Reforms as well as Special Assistant Lt. Gen ® Asim Salim Bajwa.