The loss-making airline has voiced hope that a boost to its flight operations will help turn around its financial performance. “Passenger numbers are expected to grow to 2.8 billion in 2021,” PIA Chief Executive Officer Air Marshal Arshad Malik said in the Annual Report 2020 dispatched to the Pakistan Stock Exchange (PSX) on Monday. “By the end of 2021, stronger revenues will improve the situation, but the first half of 2021 looks extremely challenging,” he said. It operated 10% flights on European routes, 2% each on Far East Asia and US-Canada routes and 12% on other routes. The plan envisaged that the airline would be bifurcated into two parts -good PIA and bad PIA - to fix its financial woes.

Source: The Express Tribune April 21, 2021 03:33 UTC