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Sunday, November 27, 2022
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Govt Likely to Sell PIA’s Majority Stakes & Outsource Management Control to Gulf Country

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PIA has been suffering recent losses for some years and in 2021, PIA had an annual loss of Rs 50 Billion. In 2022, the first 3 months PIA already had a loss of Rs 14 Billion and it may increase by end of this year.

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PIA has posted accumulated losses exceeding Rs580 billion. The government recently announced its intention to offload majority shares.

The employment rate has also been reduced drastically from more than 14,000 in 2017 to around 8,300 in 2021 but still, it continues to maintain higher employment rates all over the Word.

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The airline needs to be split into four distinct business entities, with an independent Board, and management. The four divisions can be, Budget/Domestic Operations, International Operations, Handling & On-Ground Services, and finally Real Estate Management.

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