Pakistan International Airline (PIA) Chief Executive Officer Air Marshal Arshad Malik has said the national flag carrier is moving on the right track, however, it will certainly take some time to become profitable.
Speaking at the second annual session of PIA’s shareholders, he said by the end of 2017, the collective earnings of the airline were nearly Rs91 billion while losses stood at Rs46.5 billion.
As per media reports, the session also approved appointments of external auditors for the financial assessment of 2017 and 2018.
The CEO said the delay in financial assessment was caused owing to the negligence of the previous administrations.
It is worth noting that the PIA and Civil Aviation Authority are heading towards its development phase in accordance with the vision of Prime Minister Imran Khan.
The government is implementing a business plan for taking out the national flag-carrier from the major financial losses to transform it into a profitable institution.