Pakistan International Airlines (PIA) and the broader aviation sector have faced cumulative financial losses exceeding Rs. 450 billion over the last four and a half years due to European travel restrictions. According to sources from the Privatization Commission, PIA alone has incurred losses of around Rs. 220 billion, while the remaining Rs. 250 billion in losses are attributed to the Pakistan Civil Aviation Authority (CAA) and other industry players, caused by the EU’s restrictions on Pakistani carriers. However, the recent lifting of the suspension by the European Aviation Safety Agency (EASA) marks a significant step in PIA's privatization journey. #PIA #AviationIndustry #EuropeanRestrictions #AirlineLosses #PakistanAviation
While it’s great to see the EU lifting restrictions on PIA, we can’t ignore the reasons why the ban happened in the first place. PIA’s issues weren’t just about European regulations, it was about fake pilot licenses, mismanagement, and poor safety standards. These were red flags that tarnished the trust in Pakistan’s aviation industry globally. The losses of Rs. 450 billion over the years highlight the cost of neglecting these critical issues. PIA needs to focus on transparency, accountability, and operational excellence to truly turn things around, not just for privatization but for restoring its credibility worldwide. Let’s hope this ‘restart’ is a wake-up call for long-overdue reforms in our aviation sector.
The financial losses exceeding Rs. 450 billion in the aviation sector, particularly for PIA, are concerning and largely attributed to the travel restrictions imposed by the EU. Notably, PIA alone has incurred losses of around Rs. 220 billion. However, the recent lifting of the suspension by EASA marks a positive development in PIA's privatization journey. This could indicate a significant turnaround for the airline and the industry as a whole.
While the lifting of the suspension by the European Aviation Safety Agency (EASA) is a welcome development for PIA, it’s important to acknowledge that the cumulative financial losses exceeding Rs. 450 billion over the past few years reflect systemic challenges within Pakistan's aviation sector, not just external restrictions. Relying on external entities for progress in the privatization journey might not be enough to address the deeply rooted inefficiencies within the industry. The focus should also shift toward internal reforms, improving operational efficiency, and long-term sustainability, rather than solely depending on external regulatory changes to pull the sector out of its financial slump. #PIA #AviationReform #Sustainability #InternalChallenges #AviationIndustry
It so sad but this not because of EU ban, it is because of not utilizing available Aircraft’s to to the destinations where more Pakistani people are traveling for their earnings for life .including Middle East and Africa. Hope things will get better ❤️🩹 when concern operates and rescheduling people are in real ACTION! Good luck and wishing a recovery ❤️🩹
This is just one side of the picture. Tell us more about how the service is, how much political interference there is, and why private airlines perform better when these are government run.
Hasan Tariq
3w
If they restart full European flights they'll make good profits, the demand has never been higher for direct flights, for growing Pakistani Community in Europe.
The only country in the world where you can buy a billion-dollar airline, including its routes, assets, and licenses worldwide, for just $36 million USD.
This is really disappointing 😔
Corporate & Taxation Manager at Junaidy Shoaib Asad Chartered Accountants I Morison Global
3wThis entire situation stems from the careless remarks of our former Prime Minister, Imran Khan, who attempted to shift the blame for the incident onto the previous government by spreading rumors about fake pilot licenses and mismanagement. He failed to consider the weight of his words, and over the next two years, he found no evidence to support his claims. In his mind, he was always an opposition leader, focused solely on criticizing his opponents without considering the consequences of his actions and words as PM.