Pakistan International Airlines: Change at the controls of troubled carrier
17-May-2007 |
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Mr Tariq Kirmani resigned as Chairman of Pakistan International Airlines (PIA) on 27-Mar-07, after having lost the confidence of Prime Minister Shaukat Aziz. The Government replaced him at the helm of the Ministry of Defence-owned carrier by long-time petroleum products executive, Zafar Ahmad Khan.
Mr Kirmani had held the post since Apr-05, when he took over from Ahmed Saeed. The Karachi-headquartered carrier had struggled under his guidance. Battling growing competition and the high price of fuel, it lost USD79.1 million in 2005, and then USD220 million in 2006.
The cost of fuel has been particularly damaging to PIA, which operates a fleet of largely outmoded, fuel-inefficient aircraft. The high operating cost of those aircraft ultimately combined with doubts about their safety to catalyse Mr Kirmani’s ouster from the flag carrier.
This is an excerpt from the latest edition of Aviation Analyst. Click here to download the full report. Date posted: 17-May-07 |
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Pakistan International Airlines: Change at the controls of troubled carrier 
