ISLAMABAD: Chief Executive Officer Arshad Malik explains that Pakistan’s national flag carrier PIA, has suffered a loss of Rs31.9 billion in the current year because of the Covid-19 pandemic.

He said that while giving a presentation to the cabinet regarding the progress and strategy to revive the airline.

PIA’s revenue increased by 42.5% in 2019. When Prime Minister Imran Khan asked about the total debt of PIA, he was told that the debt stood at Rs400 billion with annual interest payments of Rs24 billion.

Adviser to Prime Minister on Institutional Reforms and Austerity Ishrat Husain emphasised that the only viable option for reviving the national carrier was to split it into two companies.