PIA issues clarification on news item regarding its restructuring plan 2021 with revamp of entire airline

January 4, 2021 (MLN): Pakistan International Airlines Company Limited has issued a clarification on the news item published on a social media blog titled: “PIA restructuring Plan 2021 announced with Major revamp of the entire airline.”

In a notification issued to the Pakistan Stock Exchange on Monday, the company stated that the factual position is that the Head Office of PIACL is in Karachi. The assertion regarding shifting of Head Office of PIACL as mentioned in the news item is not correct. Furthermore, neither the news blogger nor any of the representatives contacted to confirm the contents of the news item from PIA Spokesperson thereby not maintaining the norms/ethics of the journalism.

“Such type of stories uses sensationalist headlines and misleading information to grab attention and drive click-throughs to the publisher website, normally at the expense of truth or accuracy,” the company said.

It further stated that PIA is in process of improving and restructuring the airline to make it a profitable venture despite severe constraints particularly the COVID-19 pandemic that has impacted PIA as well as the airline industry. PIA as an ongoing process for the last one year has closed its loss-making routes and is focusing on increasing frequencies and adding destinations on profitable routes.

Regarding the restructuring plan, the company further went on to say, the restructuring plan, whether operational or financial with pre-set milestones are being undertaken with the consent of the government and a committee headed by Special Assistant to the Prime Minister on Economic Affairs and Austerity, Dr. Ishrat Hussain. The information regarding any such restructuring plan will be released whenever so approved by the GoP.

All decisions in the PIACL are taken strictly in accordance with the law and with the approval of the Board of Directors of the company, if so required, the notification concluded.

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Posted on: 2021-01-04T11:24:00+05:00

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