PIA Breaks Even at Operational Level

[Shane]

Don't forget to name the visionary PM Imran Khan

Remarkable and commendable turn around, AlhamduLillah and Kudos to CEO Air Marshal Arshad Malik's team and indeed Imran Khan for appointing the right man for the Job as CEO PIA.

PIA had been incurring 2 billion per month just in operational losses before this turnaround.

 

[war&peace]

Remarkable and commendable turn around, AlhamduLillah and Kudos to CEO Air Marshal Arshad Malik's team and indeed Imran Khan for appointing the right man for the Job as CEO PIA.

PIA had been incurring 2 billion per month just in operational losses before this turnaround.

Why I stress on expressing our gratitude for IK is that everyone on this forum including certain TATAs, were of the opinion that PIA couldn't be turned around and should be sold out at bargain price... some shameless idiots (TTAs) even suggested that we should just hand over PIA to some foreign buyer free rather sweeten the deal by packing some extra valuable assets like PIA's hotels and be thankful and I tagged him here to see if he has any ounce of morality and intellectual honest left in him and accept that he was wrong.

 

[Shane]

Why I stress on expressing our gratitude for IK is that everyone on this forum including certain TATAs, were of the opinion that PIA couldn't be turned around and should be sold out at bargain price... some shameless idiots (TTAs) even suggested that we should just hand over PIA to some foreign buyer free rather sweeten the deal by packing some extra valuable assets like PIA's hotels and be thankful and I tagged him here to see if he has any ounce of morality and intellectual honest left in him and accept that he was wrong.

Looks like TTAs are gonna have to do a better job or be - found lacking, @MastanKhan was talking about similar TTAs in general too.

 

[war&peace]

Looks like TTAs are gonna have to do a better job or be - found lacking, @MastanKhan was talking about similar TTAs in general too.

If you stay limited to PDF then you're like the frog stuck in a well. But now I'm member of multiple high quality social and technical forums so I can really spot the difference in quality and also see how puny are tatas on PDF.. Most of the time, they have no clue, they are abusive and intellectually dishonest.

 

[Sugarcane]

With 450 billion of abnormally high loans and interest rates at 10%..that will be nearly impossible and PIA is not to blame for it

Anyother airline would have been closed before even hitting 200b

To PIA to be in profit it would need to have 60-80b in profits from negative !!

agreed but any glorified munshi aka CA like Ishaq Dar can play with figures and classifications to show operational break even/operating profit, perhaps that's the reason official and report don't talk about how much reduction in net loss is achieved.

 

[ziaulislam]

agreed but any glorified munshi aka CA like Ishaq Dar can play with figures and classifications to show operational break even/operating profit, perhaps that's the reason official and report don't talk about how much reduction in net loss is achieved.

ishaq dar never played figures except for slightly doing wrong GDP calculation(by changing the base) and changing the definition of debt by excluding liabilities and by add reserves via currency swaps..the destructive policies were all visible back in 2016 in state bank reports ..but our people willfully ignored the clear signs of looming disaster

--the point is asking for net profit is unreasonable, as the interests are very high on this debt..govt should clear its debt and let the organization start new..govt is paying it anyway..

 

[Sugarcane]

ishaq dar never played figures except for slightly doing wrong GDP calculation(by changing the base) and changing the definition of debt by excluding liabilities and by add reserves via currency swaps..the destructive policies were all visible back in 2016 in state bank reports ..but our people willfully ignored the clear signs of looming disaster

--the point is asking for net profit is unreasonable, as the interests are very high on this debt..govt should clear its debt and let the organization start new..govt is paying it anyway..

Red part is playing with figures and classification. I have seen enough of this playing with figures & classifications in organizations (specially those who don't have good profits). Point is that how you can start clapping without viewing complete picture.

And PIA will be in same mess even if government pay all it's debts unless operational control is taken out of government's hands. Just like PTCL, sell 20-30% share along with management control to solve the problem permanently.