During a cabinet meeting which was attended by the Chief executive officer (CEO) of PIA, Arshad Malik as well, Ishrat Hussain (advisor to the PM on institution reforms and austerity) put forward a suggestion that in order to revive the Pakistan international airlines, it should be split into two companies.
He stated: “PIA has its strengths as well, such as rights over lucrative routes, secured during its golden years, and splitting the airline into two will provide it a fair chance of revival.”
He claimed that this might be the only good option right now for the revival of the organization and will eventually be back on top in business and free of debt.
Arshad Malik had revealed that currently, PIA is under the debt of Rs.400 billion with annual interest payment amount of 24 million.
According to him there a several factors that might be reason of PIA not being in the business as it should be including:
- Poor seating arrangement
- Usage of old aircraft
- Unprofitable destinations
- No entertainment sources
- Corruption
