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MarketScreener Homepage  >  Equities  >  The Pakistan Stock Exchange  >  Pakistan International Airlines Corporation Limited    PIAA   PK0003401012

PAKISTAN INTERNATIONAL AIRLINES CORPORAT

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Pakistan International Airlines : CAA blames pilot for Karachi plane crash

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06/03/2020 | 09:14am EDT

The Civil Aviation Authority on Tuesday said the pilot paid no heed to the instructions of the air traffic controller (ATC), resulting in the plane crash near Karachi airport in which 97 people were killed.

CAA additional director operation sent a letter to the safety department of the Pakistan International Airlines (PIA) that claimed the pilot of the Airbus 320 aircraft did not follow the instruction of the ATC.

It stated that the altitude of the plane was high at the approach point and the air traffic controller had warned the captain of PK-8303 regarding it. The altitude of the plane was 5,200 feet at the seven nautical miles that's considered high from the approach profile.

The ATC had warned the captain twice and instructed to turn the plane to 180 degrees besides maintaining the required altitude; however, the instructions were completely neglected by the pilot, said the report.

It also stated that the plane fell down to 1,300 feet altitude from 3,500 feet at the four nautical miles, whereas, the speed of the aircraft was more than 250 knots before landing which is also considered high from the required acceleration.

© Pakistan Press International, source Asianet-Pakistan

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Financials
Sales 2019 165 B 991 M 991 M
Net income 2019 -55 979 M -337 M -337 M
Net Debt 2019 322 B 1 936 M 1 936 M
P/E ratio 2019 -0,62x
Yield 2019 -
Capitalization 22 146 M 133 M 133 M
EV / Sales 2018 2,48x
EV / Sales 2019 2,17x
Nbr of Employees -
Free-Float 55,0%
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Managers
NameTitle
Arshad Mahmood Malik President, CEO & Executive Director
Aslam R. Khan Chairman
Syed Aijaz Mazhar Chief Operating Officer
Khalilullah Shaikh Chief Financial Officer
Amir Ali Chief Technical Officer
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