The 56th Annual General Meeting of the Pakistan International Airlines (PIA) was held here on Wednesday. Senior Member PIA Board of Directors, Hussain Lawai, presided over the meeting. A statement said that Managing Director PIA, Muhammad Junaid Yunus, and Member Board Javed Akhter, were also present at the occasion.
It said that the PIA shareholders appreciated the present management's role in maintaining the airline operations with a fleet constraint and other factors affecting the airline especially inconsistency and frequent change of Management. They demanded consistency and continuity of management to implement their plan effectively to achieve desired results. Earlier, Junaid Yunus in his address said that the airline is in an urgent need to induct new aircraft in its fleet to meet demand and capacity.
He said that the airline is in the process to acquire 12 narrow body fuel efficient aircraft in its fleet which will enable the PIA to offer better services to its customers and will have savings with regard to fuel costs and maintenance costs, as presently the airline fuel cost is around 60 percent as compared to the industry average of 35 percent.
Hussain Lawai in his address said that good news is that very soon in the first phase PIA will be getting four newer narrow body aircraft on lease from its own resources and no further loans will be obtained. He said that a complaint cell will be established with active participation of shareholders. Later the shareholders approved the annual accounts for year 2012.
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