ISLAMABAD: PIA has proclaimed on Monday (6th April, 2026) that bewildered by the continuous augmentation of jet fuel (JP-1) prices, the National Flag Carrier had to cut its flight operations.
Soaring fuel price, due to supply chain uncertainty, has also forced PIA to terminate discounts that was being provided to passengers: “The PIA has made a principled decision to end all discounts, with concessions remaining only for children and infants,” the airline informed. In order to contain the losses following fourth consecutive increase in jet fuel prices, PIA would also restrict its UAE flight operations.
The carrier is also going to, “suspend flights to Gulf countries, with the exception of the UAE and Saudi Arabia, until the end of April”. Maintaining that jet fuel prices could not be passed to voyagers, management of the National Flag Carrier has further decided to suspend its flight operations to Beijing from 11th April and Kuala Lumpur from 14th April.
Citoyens are hopeful that the soon the Iran US war will end and Strait of Hormuz will facilitate oil tankers to provide ample fuel. Once the price of oil normalizes, PIA shall restore the terminated routes.
It may be recalled that on 23rd December last year, GoP’s Ministry of Privatisation took to the X to congratulate the winning Consortium for the PIA bid, led by Arif Habib Ltd.
According to details Arif Habib–led consortium submitted the highest bid of Rs.135 billion for 75% shares of PIA, surpassing the government’s reserved price of 100 billion. PIA will be managed from April, 2026 by the Consortium (that includes Fatima Fertiliser, City Schools, andLake City Holdings. Fauji Fertiliser (that did not bid for the acquisition of PIA) might join it.
Commenting on the development, Finance Minister said: “It takes a lot of time and effort to get to a good place where we are today. All of the bidders today are from Pakistan. I used to say that no matter which team wins, Pakistan would win. The fact that they have stepped up is a doubtless sign that anyone who is the successful bidder will take it not only to where we were, but where we need to be in the comity of nations…
“We need to stop the bleeding and losses, but more importantly, our institutions need to be part of the comity of nations, and we will take them there. The government, through the privatisation of business entities under state custody, will not only save itself from losses in the thousands of billions but also accelerate the process of economic recovery,” the Finance Minister added.
Newspakistan.tv
