Fuente : Pakistan International Airlines
http://www.piac.com.pk/

286th Meeting of PIA Board of Directors

/noticias.info/ PIA reported an increase in revenue by Rs. 1.6 billion during the first quarter of the year 2005, which is an 11% increase as compared to the same period last year.

The quarterly accounts were presented to the PIA Board of Directors which held its 286 th meeting under the chairmanship of Mr. Tariq Kirmani here today.

The Board considered and approved the Interim Report reflecting a pre-tax Profit of Rs.188 million; and noted that the profitability had been highly affected by the fuel prices which had rised by 40% as compared to last year. It was observed that despite th is negative impact, the increase in revenue had been due to rise in passenger traffic and in cargo earnings having gone up by 20% as compared to the corresponding Quarter of last year.

Mr. Kirmani apprised the Board of PIA's Business Plan and the aggressive marketing strategy it is adopting to combat competition on domestic and international routes. He explained that the daily Dubai Special effective June 1st is being introduced keeping in mind the comfort, the convenience and competitive fares for the passengers. The chairman also informed the Board of steps being taken regarding group travel, opening of new destinations, schemes for award plus and development of Tourism.

The Board appreciated the policies adopted by the airline and directed the management to continue with its endeavours to enhance revenue and service both in passenger and cargo operations. The members emphasized on cost cutting measures and rationalization of expenses.

Board constituted a Human Resource and Good Governance Committee and reconstituted its existing Audit Committee. Board also considered various options to replace its F-27 ageing fleet.

The meeting was attended by Mr. Asad Ali Khan, Mr. M. H. K. Khaishgi, Dr. Sughra Junejo, Syed Mohammad Fazal Agha, Mr. S. Ali Raza and Mr. Kamal Afsar.

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