KARACHI: Pakistan International Airline (PIA) managed to retain its international market share of 39 percent and increased its domestic market share to 76 percent from 74 percent of last year, said Air Chief Marshal Rao Qamar Suleman (retired) PIA chairman and CEO.
Presiding over the 55th annual general meeting (AGM) of the airline on Saturday, he said, “PIA has signed a purchase agreement with the Boeing Company for acquisition of five Boeing 777 aircraft”.
He said the corporation also planned to induct narrow body aircraft to augment capacity and bring efficiency. A focused approach to customer service will greatly help PIA return to profitability, he added.
PIA shareholders enthusiastically participated at the 55th AGM and put forth their suggestions and searching queries for turning around the national airline.
He informed during 2011, despite many challenges PIA added new destinations including Zahedan, Colombo, and Madina. He said in the face of competition, PIA managed to retain its international market share of 39 percent and increased its domestic market share to 76 percent from 74 percent of last year.
However, during 2011, slow economic growth in developed economies placed pressure on aviation business across the globe resulting in economic uncertainty. International travel growth remained depressed and showed mixed performance across regions, he added.