KARACHI: The Pakistan International Airlines (PIA) has achieved operating profit of Rs.738 million in November 2012 as compared to losses of Rs. 1,272 million in the corresponding period last year despite `difficult economic conditions, fierce competition, rising fuel prices, foreign exchange losses and law and order situation'.
This was claimed in a PIA statement issued here on Sunday evening.
It said that `Consecutively for the third month, there is significant increase in the airline's revenue income due to the dynamic policies of the present management since September 2012 the national carrier has been achieving operating profits'.
The PIA statement further pointed out that the airline faced a tough year yet successfully pushed the airlines business forward in a number of different areas.
The credit for the operating profit for the third month in a row attributed to the employees for making the airline thrive despite challenging times, it added.
The Managing Director, Muhammad Junaid Yunus, believes that this is a testament of the efforts of everyone connected with the airline.
He explained that this year PIA made successful Hajj operation and carried 98,000 Hajjis achieving 96 percent flight regularity and punctuality winning awards from Saudi Civil Aviation Authorities.
Furthermore, in the past two months PIA's operational profits demonstrates that the airline is able to achieve higher levels of profitability, the PIA Managing Director added.
He said that PIA is looking forward to the next year, there exists opportunity to continue on improving the financial health of the airline.
It is satisfying to see the airline making progress and these efforts are laying the foundation for the company's future, he added.
Junaid Yunus said that the focus of the present management is on cost reduction, improvement and expansion in network, yield and revenue.
Robust business plan for transformation is the roadmap for going forward. It will be a long, winding and difficult journey and will require unleashing the talents of all the employees and support and patronage of the valuable customers.
The business transformation plan will transform the Airline into a strong, dynamic and vibrant institution, aggressively tackling new opportunities and absorbing external shocks, the PIA Managing Director emphasized.
He further added that inducting newer aircraft in the PIA fleet would be the turning point for the airline as it will be the foundation of being able to deliver cost cutting on fuel and improve punctuality and regularity bringing back the confidence of the customers.
MD PIA said that these aircraft should have been introduced more than a decade back since the center of PIA's network is short haul operations (within four hours) which comprises 64 percent of total operations, the newer aircraft if brought earlier would have been cardinal for the airlines financial conditions revival.
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