According to Khawaja Saad Rafique, Federal Minister for Aviation and Railways, the government has no plans to sell or give anyone a stake in Pakistan International Airlines (PIA).
He continued by stating that it is incorrect that the Roosevelt Hotel, one of PIA’s most valued New York properties, is being sold. Instead, the government wants to reopen the hotel and turn it into a profitable enterprise by using the finest international techniques. They are doing a lot of effort to restart PIA. This requires a great deal of effort, careful planning, and an expansion of the operational fleet said Rafique on Monday during a news conference.
The government should only play a little part in running PIA and its assets, he continued. They must operate the airline and its assets, which include airports and other facilities like the Roosevelt Hotel, by the global model. They will ultimately need to pursue the hotel’s restoration and management through a joint venture because it is an expensive endeavor. In a Cabinet meeting, they have already made this recommendation, the minister said. He claimed that although PIA is currently overstaffed, they are not currently considering any layoffs because we are a third-world country. This labor force will alter as the PIA fleet exceeds 40 aircraft. This quarter, PIA generated Rs. 50 billion in revenue and is successfully running its business.
They have set a revenue target of Rs138 billion for the airline for this fiscal year but are hopeful to collect a revenue of over Rs155 billion, added Rafique. By the end of this month, PIA’s operational fleet will consist of 24 aircraft. For a country of 220 million people, however, a fleet of at least 40 aircraft is necessary. Even if it would take some time, they are working to lease new planes, he said. When he was discussing worldwide fleet operations, Rafique stated that the former minister’s irresponsible remark damaged PIA operations. While we are still mourning the loss, they are negotiating to resume PIA activities there with the governments of the UK, USA, and EU.
Direct flights between the UK and Pakistan are desperately needed because other private airlines are asking exorbitant rates for the route, he continued. The minister announced that they had reached a deal with Turkish Airlines under which the carrier will fly Pakistani nationals from Istanbul airport to 26 foreign locations. The passengers’ flight from Pakistan to Istanbul would be organized by PIA. We are increasing flying capacity for religious tourism as well. They have already reduced plane fares for China, and they will drop even further once we begin flying straight to Beijing, according to the minister.
Rafique continued that they are aiming to expand the Lahore Airport’s capacity. Along with fleet planning, we are also striving to expand other airports like Sukkur, Dera Ismail Khan, and others to increase connectivity throughout the nation. PIA currently has a reputation problem and is a challenging company. At Pakistan Railways, the same thing happened to me. We must fight back and change our mindset if we are to get PIA back to its former position as one of the leading airlines.
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