Pakistan’s Defence Ministry stated there are no plans to privatise Pakistan International Airlines (PIA), despite the airline reporting an accumulated loss of more than PKR40 billion (USD481.9 million) since Jan-2008 (Daily Times, 17-Oct-2009). PIA reported a loss of PKR5.4 billion (USD65.1 million) for the six months ended 30-Jun-2009. The carrier is currently assessing various aircraft types, as part of plans to expand its fleet, and will consider its financing options once an aircraft type has been finalised.
Pakistan International Airlines not likely to be privatised
19-Oct-2009 11:29 AM