PIA earns profit for third consecutive month

By Abdul Qadir Qureshi  
(Pakistan News & Features Services)

National Carrier, Pakistan International Airlines (PIA), has achieved an operating profit of Rs.738 million in November 2012 after having suffered losses of Rs.1272 million in the corresponding period last year. 

The airline earned the profit despite difficult economic conditions, fierce competition, rising fuel prices, foreign exchange losses and law and order situation, PIA said. 

It was for the third month running that there was significant increase in the airline’s revenue income due to, what was described as, dynamic policies of the present management which made the airline to achieve operating income since September this year. 

Although the airline faced a tough year yet successfully pushed its business forward in different areas with the credit attributed to the employees who made the airline to leap forward despite challenging times. 

The Managing Director, Mohammad Junaid Yunus, described it a testimony of the efforts of everyone connected with the airline. 

Explaining, he said PIA made successful Hajj operation this year and carried 98,000 hajjis achieving 96 percent flight regularity and winning punctuality awards from Saudi Civil Aviation Authorities. 

PIA’s operational profits during the last two months, demonstrated that the airline is able to achieve higher levels of profitability, he remarked. 

Having a forward look for the next year, Junaid Yunus believed that opportunity exists to continue on improving the financial health of the airline and it is satisfying to see the airline making progress and the efforts being made laying the foundation for the company's future. 

He said the focus of the present management is on cost reduction, improvement, and expansion in network, yield and revenue. 

Robust business plan for transformation is the roadmap for going forward, he said adding that it will be a long, winding and difficult journey requiring unleashing of talents by all the employees with support and patronage from valuable customers. 

He hoped the business transformation plan will transform the airline into a strong, dynamic and vibrant institution, aggressively bracing new opportunities and absorbing external shocks. 

According to him, the induction of new aircrafts in PIA fleet would be the turning point for the airline as it will be the foundation of being able to deliver cost cutting on fuel and improve punctuality and regularity bringing back the confidence of the customers. 

He asserted that these aircrafts should have been introduced more than a decade back since the centre of PIA’s network is short haul operations (within four hours) which comprises 64 percent of total operations, the newer aircraft if brought earlier would have been cardinal for the airlines financial conditions revival.