ISLAMABAD: Pakistan International Airlines (PIA) is trying to implement a “business plan” to deal with its administrative and financial challenges, local media reported on Wednesday, saying management hoped to replace the airline’s 72 aging ATR planes in three months.

Quoting top PIA official Arshad Malik, Pakistan’s The Express Tribune newspaper said the government wanted to replace the ATR planes for regional transportation with narrow-body aircraft.

“PIA will induct narrow-body aircraft into its fleet and it is in the process of returning 72 ATR planes, which had been acquired many years ago on expensive lease,” he said, adding that PIA was in the process of human resource restructuring and rationalization to revamp itself.

Malik said PIA would gradually replace its aircraft with newer versions equipped with up-to-date entertainment systems.

PIA has accrued hefty losses since 2008 which have resulted in huge negative equity. The carrier posted a net loss of Rs34.6 billion for 2020.

The airline’s employee-to-aircraft ratio far exceeds most foreign air carriers, and it has been stopped by international regulatory agencies to fly to various lucrative destinations in the United States and Europe after a senior minister claimed last year that most of its pilots had fake licenses.

“There will be no new recruitments in PIA as per Supreme Court’s orders,” he said. “The Voluntary Separation Scheme was announced with complete package and understanding of the beneficiary, who submitted affidavits to forego retirement benefits in lieu of the package.”