Pakistan International Airlines (PIA) has made major strides towards operational and financial recovery with the addition of the 11th Airbus A320, registered as AP-BOM, to its fleet. The refurbished aircraft, equipped with new engines, promises to enhance PIA’s network and quality of service, the airline’s spokesperson confirmed in a statement.
The Airbus 320 has undergone extensive upgrades, including a new livery and cabin refurbishment, symbolizing PIA’s ongoing efforts to revitalize its fleet. Additionally, the spokesperson revealed plans to return the long-retired 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 company also focuses on punctuality, taking measures to achieve a 90% regularity rate for flight schedules.
The spokesman stressed that “adhering to flight schedules and providing safe, high-quality products to passengers remains our top priority.”
PIA is set to resume its flights to Europe, starting from Paris in January, after receiving approval from the European Union 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 begin European operations with a Boeing 777 flight on January 10, with bookings already open. The ban, which has cost PIA an estimated 40 billion Pakistani rupees ($144 million) annually in lost revenue, has significantly impacted the airline’s bottom line.
Privatization Minister Abdul Aleem Khan described the resumption of European flights as a “very positive step” and an “important milestone” for the national carrier’s privatization process.
Challenges of privatization
PIA’s privatization efforts have faced hurdles, as the previous bidding process fell short of expectations. In October, the Blue World City consortium, the sole bidder, refused 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 new privatization process.
“The process of privatization of PIACL will start afresh with the appointment of a new financial advisor,” an official from the Privatization Commission said.
The resumption of flights to Europe is expected to strengthen the case for privatization of PIA, increasing its attractiveness in the market. Restoring its fleet and improving operational reliability is crucial for the struggling airline as it faces the dual challenge of regulatory compliance and financial restructuring.