PIA board okays Rs114b revenue target

KARACHI (PR) - PIAs 323rd Board of Directors meeting was held at PIA Office, Islamabad on Thursday, in which, the board approved Corporate Budget for the year 2010 with a revenue target of Rs114 billion that is more than 20 percent higher as compared to the unaudited revenues of 2009.
Board discussed that new/additional flights, real time Pax Revenue Management System, Pakistan Remittance Initiative (PRI), Cargo Revenue Management System and monitoring of Route Profitability were part of the strategies which would enable PIA to achieve the target revenues. Meanwhile, Board was briefed on the cost cutting measures including debt swap, fuel price hedging, review of contracts, aeronautical charges and ATR fleet economics.
A detailed discussion on the operational performance of PIA was held by the Board which inter alia covered flight regularity, flight punctuality and route performance. Board also discussed different measures taken by the Management to initiate Strategic Business Units (SBUs) in the areas of Maintenance, Repair and Overhaul (MRO), Speedex and PIA Training Centre.
The board was updated regarding the Brand Key which was prepared to develop a positioning for the PIA brand and to develop it into key creative messaging that can be applied to achieve defined objectives with qualified target audiences. Proposed upgradation of cabin for both services to passengers was also discussed and approved.
The meeting was chaired by Ch Ahmed Mukhtar, Minister for Defence and Chairman PIA and attended by Captain Mohammad Aijaz Haroon, Managing Director PIA, Syed Naseer Ahmed, Malik Nazir Ahmad, Mubashir Iftikhar, Husain Lawai, Shaukat Ali Rana and Salman Siddique Federal Secretary Finance.