Pakistan International Airlines “technically bankrupt” – Managing Director
Pakistan International Airlines (PIA) Managing Director, Captain Ijaz Haroon, stated last month the carrier is “on its death bed” and had been “technically bankrupt since 2000”. Capt Haroon also revealed the Pakistan Government injected money into the carrier in both 2001 and 2003. The government recently confirmed that, as the majority shareholder of the carrier, it is committed to ensure the ongoing status of PIA. [919 words]
Unlock the following content in this report:
- Needs to arrest quarterly losses
- Reduces first half losses
- Outlook: Major challenge to return to profitability
Graphs and data:
- Pakistan International Airlines financial highlights for three months ended 30-Jun-2009
- Pakistan International Airlines traffic highlights: Three months ended 30-Jun-09
- Pakistan International Airlines financial highlights for six months ended 30-Jun-2009
- Pakistan International Airlines revenue breakdown for six months ended 30-Jun-09
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