Pakistan International Airlines (PIA) has announced a significant reduction in airfares for passengers travelling between Faisalabad and Karachi.
According to sources, PIA is offering discounts of up to 40 percent for a limited period.
Under the revised fare structure, the one-way ticket price has been reduced from nearly Rs20,000 to Rs16,781, while the return fare has been cut from around Rs38,000 to Rs33,742.
According to the airline, the discounted fares will remain valid until July 30 and will apply to PIA’s return flights operating on Wednesdays, Fridays, and Sundays.
Last month, the government transferred management control of Pakistan International Airlines Corporation Limited (PIACL) to an investor consortium led by Arif Habib Corporation Limited after achieving the first financial closing of the airline’s privatisation.
The transfer follows the completion of all conditions precedent under the Share Purchase and Subscription Agreement (SPSA), the Privatisation Commission said in a statement.
Under the first closing, the consortium paid Rs10 billion to the government as part of the agreed sale proceeds and injected Rs80 billion into PIACL as fresh equity to strengthen the airline’s finances, support fleet expansion and modernisation, expand its route network and improve operations.
