Pakistan International Airways reports losses in 2006
08-Feb-2007 |
Airline Code [PIA]
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Pakistan International Airways reported a USD150.6 million loss for the 12 months ended 31-Dec-06.
<p>The loss was attributed mainly to higher fuel costs. The carrier ruled out the possibility of privatisation in the near future, but has forwarded operational and financial restructuring plans to the Ministry of Finance for approval.
The plan proposes the issuance of Term Finance Certificates, an equity injection by the government and the sale of non-core assets, as well as various internal steps to improve the airline’s performance. The plan will be implemented this year. </p>
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Pakistan International Airways reports losses in 2006 
