ISLAMABAD- The National Assembly was informed today that the government had taken a number of steps to improve the performance of Pakistan International Airlines.
Minister of State for Parliamentary Affairs Shaikh Aftab told the House that these steps included cash injection of 16 billion rupees for debt servicing, acquiring four narrow body aircraft on wet lease from Turkey and Czech Republic for three months, financing for acquisition of 11 narrow body aircraft on dry lease, sovereign guarantees to GE Company for overhauling of 777 engines, cost cutting measures and route rationalization.
He said government also plans to divest 26 percent share of PIA to a strategic partner with complete management within a period of one year through the Privatization Commission. Shaikh Aftab said PIA is not considering the reduction in its fares on international flights as these fares are in line with the competitors.