PIA’s suffered huge record loss of Rs.2,882.012m


ISLAMABAD: An Audit report has revealed that Pakistan International Airlines has sustained loss of Rs 2,882.012 million due to premier service, started on the directions of ousted Prime Minister Nawaz Sharif.

Audit report has mentioned that Pakistan International Airline Corporation (PIAC) on the directive of PM, PIAC launched premier service and signed a lease agreement with Sri Lankan Airlines for six months from August 2016 to February 2017.

The total revenue generated was Rs 2,334.612 million against the expenditure incurred Rs 5,216.624 million.  Resultantly, the corporation sustained operation loss of Rs 2,882.012 million during 06 month operation of premier service.  However, feasibility study from marketing department proposed that Premier Service on lease would not be feasible.