Arshad Mehmood Malik Chief Executive officer of Pakistan Air Line claimed that revenue of National flag carrier PIA increased 41% during the last 6 months. Addressing in KATI Korangi association trade and industry CEO said that due Government tire effort PIA is progressing by leaps He said " two new planes will be added to fleet next month and three more will be added next year.' CEO said that Staff of PIA is working day and night to improve cargo and other services. He said that in order to improve our services we need support from our business community. PIA has started its flight to Toronto, Canada and the number of Flights to Dubai will also be increased. Ceo also said that the memorandum of Understanding has also been signed with according to which it will provide special facilities to the Business Community, and will offer a special discount of 5% for domestic and 7% for international flights. However, the management has been unable to release any financial statements for the airline beyond the year 2017. “Auditors are finalizing the results for 2018” Mashood Tajwar, the spokesperson of the airline tells that when asked about the status of the monetary statements that the company is yet to file. “They should be ready before the end of the year.”
The last financial statements that PIA reported are for the year 2017, and they were published on the stock exchange The report reveals a very weak financial picture of PIA, which reported a loss of Rs47.76 billion correlated to the preceding year’s loss of Rs44.77 billion. While the national flag carrier’s income increased by 2.07 per cent, mostly due to rupee devaluation, the operational expenses went up as well
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