“PIA is restricting its losses and in the next three years, it will be profitable,” he said during a press briefing at the Pakistan Civil Aviation Authority (CAA) headquarters on Thursday. PIA reported a loss of Rs27 billion in the quarter ended September 30, 2018, against Rs30 billion in the same period of 2017, according to the latest data revealed by the airline. “The new administration of PIA is making efforts to increase the efficiency of the airline,” the minister said. “Agreements are time-bound and the new aviation policy will set the direction based on which new contracts will be signed and old ones will be renewed,” he stated. Moreover, he continued, foreign airlines had expressed confidence in the new aviation policy.

Source: The Express Tribune April 12, 2019 03:22 UTC