The national flag holder airline PIA have restore operation to Europe after almost 5 years, which proved that the national carrier was not founded, to sell on cheap value but it, could be revive by such steps to restores its operations. In the last three decades Pakistan international airline had lost most of its earning routs because of financial crises and the government want to outsource the sinking “Titanic” but no one in the world is ready to buy such an airline which is facing losses in every department but last month the establishment had made a great decision that government has decided to sell a business unit of Pakistan International Airlines (PIA) to the Pakistan Air Force for Rs2.5 billion in cash, which is equal to one-fourth of the price that a sole bidder offered for acquiring 60% shares in the national flag carrier.
The total sales value of Precession Engineering Complex (PEC) is Rs6.5 billion, including Rs4 billion in pensions-related liabilities of its current and retired employees, a senior government official told The Express Tribune. PEC is a business unit of PIA that manufactures high-precision parts for the aerospace industry and a number of other industries.
If the national airline should fully transfer to PAF then it could be revive in all aspects. Yesterday we hear another good news that, first direct flight from Islamabad to Paris took off as the Pakistan International Airlines (PIA) resumed its long-awaited flights to Europe in more than four years, marking a major milestone for the national flag carrier.
PIA’s authorization to operate in the Europe was suspended in June 2020 over concerns about the ability of Pakistani authorities and its Civil Aviation Authority to ensure compliance with international aviation standards.
The flight took off from Islamabad around 12:40pm, becoming the only carrier to offer a direct route to and from the European Union.
Federal Minister for Aviation Khawaja Asif, who saw off the passengers at the airport, said that the flight, PK 749, was 100% booked, signaling a positive turn for the airline, which has faced several challenges in recent years.
While addressing a ceremony after the flight’s take off, Asif said that the national airline’s services to Europe were once again operational, with PIA now connecting Pakistan with the French capital.
Additionally, the he suggested that privatizing PIA could be a potential solution to secure the airline’s long-term success and ensure its profitability moving forward.
“The green and white flag of Pakistan is once again waving in European skies,” Khawaja Asif declared, referring to the airline’s renewed presence in the continent’s airspace.
He also took the opportunity to criticize the negative impact that “irresponsible” statements about PIA by a former minister had caused over the years.
He called for accountability from those who had made damaging remarks, stressing that such comments should not be allowed to hurt the reputation of the national carrier.
The successful takeoff of PIA’s first flight to Paris is seen as a significant step in the airline’s recovery, with 323 passengers on board for this historic journey.
Debt-ridden PIA was banned in June 2020 from flying to the European Union, United Kingdom and the United States, a month after one of its Airbus A-320s plunged into a Karachi street, killing nearly 100 people.
The disaster was attributed by former aviation minister, Ghulam Sarwar to human error by the pilots and air traffic control, and was followed by allegations that nearly a third of the licenses for its pilots were fake or dubious.
Actually the re-established sufficient confidence” in the Pakistan Civil Aviation Authority’s oversight capabilities.
The ban cost the loss-making airline 40 billion rupees ($144 million) annually in revenue.
So if we should conclude the above arguments here, it is the only solution to revive national airline, out sourcing on privatization will harm its value.
