According to Bloomberg, Pakistan International Airlines Corp. will cut half of its 14,000 staff, replace some of its fleet, and close loss-making routes permanently in order to become profitable for the first time in more than a decade.
Ishrat Hussain, advisor to Prime Minister Imran Khan said that Pakistan’s cabinet approved the carrier’s restructuring. After strengthening its balance sheet, it also requested to look at outsourcing management contracts or selling a 26 percent stake in the airline, he said.
Attempts at revival in the past have been thwarted by protesting workers or political opposition. In a recent interview, Hussain said that there are “no grandiose plans to become like Emirates, Etihad, or Qatar.” He described it as a “very lean and efficient organization.” By 2023, PIA would be profitable again.
