Pakistan International Airlines (PIA) has cut its employees’ salaries by up to per cent as the national carrier struggles to tackle economic repercussions of COVID-19 travel restrictions.
Abdullah Hafeez – PIA spokesperson, stated that the organization has cut the salaries of employees by 10 per cent, whose annual income was in excess of Rs 100,000.
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Whereas, employees whose annual salaries are more than 300,000 will face up to 25 per cent salary cut as the airline is suffering from severe financial stress due to lack in its income as a result of coronavirus travel restrictions.
However, PIA has reaffirmed that the employees between 1-4 grade will not be affected by the salary cut.
Prior to this, senior PIA officials had announced voluntary salary cuts, where PIA CEO Arshad Malik announced a salary cut of 20 per cent to ease the financial burden on the organization, meanwhile general managers and managers announced 15 and 10 per cent voluntary salary cuts respectively.
It is to be noted that airlines around the world have suffered immensely due to coronavirus travel ban. PIA reported a loss of Rs 4 billion in the month of March alone, a figure which has definitely incremented in the last two months.
