PIA unveils its five-year business plan, prepared by IATA

The Pakistan International Airlines (PIA) Tuesday presented its five-year plan prepared by International Air Transport Association (IATA) to the finance ministry for approval, reported 24NewsHD TV channel.

The national airline's five-year business plan aimed at eliminating the deficit and restoring the lost glory of the national carrier.

The IATA had prepared the business plan at the request of the government and the finance ministry.

As per the plan, the PIA would fly into profits by 2024.

The number of PIA planes will be increased from 29 to 49 gradually and the fleet will consist of 16 big and 27 small aircraft and six modern turbo propellers. Resultantly, the number of PIA passengers will also go up from 5.2 million to nine million.

As per the five-year plan, PIA's assets will be increased from $1.196 billion to $2.183 billion in 2026.

The national airline will expand its network, adding more flights to lucrative routes such as the UK, UAE, Saudi Arabia and the Gulf.

“PIA will launch new routes to destinations of Baku, Hong Kong, Istanbul, Kuwait, Tehran, Urumqi and Singapore,” the five-year plan document reads.

The IATA plan stated that the PIA will focus on the cargo and the charter business as well along with passengers’ revenue model.

However, the implementation of the business plan has been linked with few things like the federal government will have to complete PIA’s financial restructuring.

It has also been stated in the plan that the government has to implement the 2019 National Aviation Policy in true letter and spirit that asks the government to protect the national airline’s interests.    

As per the five-year plan, in order to establish the PIA on a commercial basis external influence and interference must be eliminated.

Reporter Usman Javed