Pakistan International Airlines (PIA) has taken significant strides toward operational and financial recovery by adding an 11th Airbus A320, registered as AP-BOM, to its fleet. Equipped with new engines, the refurbished aircraft promises to enhance PIA’s network and service quality, the airline’s spokesperson confirmed in a statement.
The Airbus 320 has undergone extensive updates, including a new paint job and cabin refurbishment, symbolising PIA’s ongoing efforts to revitalise its fleet. In addition, the spokesperson revealed plans to return long-grounded Boeing 777 and ATR aircraft to service in the coming days.
PIA recently introduced in-flight internet services on domestic routes, marking a step forward in passenger convenience. The airline is also focusing on punctuality, with measures in place to achieve a 90% regularity rate for flight schedules.
“Adhering to flight schedules and providing safe, high-quality products to passengers remains our top priority,” the spokesperson emphasised.
PIA is set to resume flights to Europe, starting with Paris in January, after receiving clearance from the EU Aviation Safety Agency (EASA). This development follows a suspension imposed in June 2020 due to concerns over compliance with international aviation standards.
The airline plans to commence its European operations with a Boeing 777 flight on January 10, with bookings already open. The ban, which cost PIA an estimated PKR 40 billion ($144 million) annually in lost revenue, had significantly impacted the airline’s bottom line.
Minister for Privatisation Abdul Aleem Khan described the resumption of European flights as “a very positive step” and a “significant milestone” for the national carrier’s privatization process.
Privatisation Challenges
PIA’s privatisation efforts have faced hurdles, with a previous bidding process falling short of expectations. In October, the Blue World City consortium, the sole bidder, declined to meet the government’s minimum price of PKR 85.03 billion, offering only PKR 10 billion for a 60% stake. The deal collapsed, prompting the government to announce a fresh privatisation process.
“The process for the privatisation of PIACL will be started afresh with the hiring of a new Financial Advisor,” an official from the Privatisation Commission stated.
The resumption of flights to Europe is expected to strengthen PIA’s privatisation case, boosting its market appeal. The restoration of its fleet and improved operational reliability are critical for the struggling airline as it navigates the twin challenges of regulatory compliance and financial restructuring.
