Pakistan’s cash-strapped national carrier PIA is expected to suffer a loss of Rs 112 billion this year and running the airline on a public-private partnership model is the only solution to turn it into a profitable organisation, its CEO has said.
During a press briefing, Pakistan International Airlines’ CEO Air Vice Marshal Amir Hayat pointed out that the national carrier sustained a total loss of Rs80 billion in 2022 because of old loans and interest payments, the Express Tribune reported.
He said that the PIA had a debt of Rs 742 billion passed on to its current management.
Hayat warned that if the airline was not restructured, its annual loss would reach Rs 259 billion (USD 900667) in 2030.
