Pakistan International Airline’s is loosing 3.25 billion rupees on monthly basis which is 325 crore rupees. PIA’s acting Chief Executive Officer, Nayyar Hayat said this while talking to some so called aviation journalists. The CEO blamed Gulf based Airlines and the misuse of open sky policy for the heavy losses incurred by the national airlines. There was no word about his own team’s mismanagement and utter failure on part of his bosses.
Nayyer Hayat was was given additional charge of acting CEO after the same charge was taken away from Bernd Hildenbrand. Nayyar Hayat has been in charge of overseeing this colossal loss as PIA’s Chief Financial Officer (CFO) for the past 3 years.Instead of an Open Sky policy the world is now talking about fair sky policy. American airlines have submitted a report to the US congress about losses due to the Open Sky policy.
PIA’s Acting CEO said that PIA’s financial condition is not very good and the airline has to pay billions of rupees every month to pay back legacy loans and service charges, estimated at about Rs. 3,250 million.