MM News

A report by the Civil Aviation Authority (CAA) has revealed that all Pakistani airlines failed to deliver passengers on time during the first six months of this year.

The CAA report is a reminder of challenges faced by Pakistani aviation industry.

Airlines are struggling to operate on time due to a number of factors, including mismanagement, financial difficulties, and poor infrastructure.

The national airline, PIA, performed the worst among domestic airlines, with only 58.24% of its flights departing on time.

The report blamed mismanagement and financial crisis for the poor performance of PIA.

However, four private airlines performed much better than national carrier with Fly Jinnah having the highest on-time departure ratio of 87.93%.

Air Sial stood second with 86.89% on-time flights followed by Airblue with 78.36% and Serene Air with 62.07%.

PIA has lost Rs60.71 billion in the first half of 2023, according to its financial report. The national carrier lost Rs41.31 billion in the same period last year.

The depreciation of the rupee caused PIA to lose Rs27.45 billion in the first six months of this year. The loss stood at a sum of Rs13.85 billion because of the currency exchange rate during the same period in 2022. The currency exchange rate caused PIA to lose Rs13.85 billion in the same period last year.

PIA spent Rs48.34 billion on fuel and oil in the first half of 2023.

The airline’s finance cost in the first half of this year was Rs36.82 billion and during the same period last year, it was Rs21.11 billion.