PIA is in technical insolvency

pia_42111112-640x480While PIA has already been in technical insolvency, with financial obligations, liabilities and deficits exceeding its assets, and gathered deficits exceeding Rs146 billion, the world’s most surplus worker to aircraft ratio, air travel worker unions have requested salary hikes. It is really an air travel without sufficient funds to obtain essential spares to help keep its new number of Boeing 777 serviceable. The PIA chairman has remarkably requested all unions for example PALPA, SAEP, FENA, SSA, ATAP and Worker Union to submit their charter of demands. On December 31, 2012 the exclusive United kingdom-based Financial Occasions pointed out that PIA has got the biggest worker to aircraft ratio among all air carriers around the globe.PIA continues to be reduced for an organization which, regardless of massive revenue pilferage, deficits, decrease in frequency of plane tickets and grounding of their fleet, is becoming hostage to the employees, who demand greater salaries and also have chose to make this condition-possessed corporation an encumbrance on tax payers of Pakistan and national exchequer. Rather than decrease in employees, a lot more than 3,500 more happen to be hired, in breach of merit throughout past five years.