I know the Roosevelt Hotel pretty well. It’s very close to where my office was. And I also had some cousins stay there on multiple occasion so I have seen the rooms as well. The rooms are nothing to speak of and the service wasn’t that great either. But they have overhauled the entire lobby and had added new restaurants and bars that are pretty happening. That building is also kind of a landmark and should be worth a ton of money. It would be sad if they do sell it. It’s cool to see the Pakistani flag on there.
Re: What are your thoughts on the privitization of PIA?
no...not at this time when PIA has made a profit for the first time of Rs. 1.67 billion in the first quarter of 2014.
Nawaz Shareef has sanctioned funds to buy 3 new B-777...i think they shouldn't at this time. wait N see how it performs over the next 9 months of the fiscal year.
btw, Air India is selling 9 planes of it's fleet of B-777. PIA should buy it from them. :)
Air India has inducted 17 brand new B-787's, the Dreamliners in it's fleet to serve both domestic and international routes.
Re: What are your thoughts on the privitization of PIA?
It still made a loss not revenue. Also it doesn't generate any money for us. I am referring to the Hotel. It is owned by the Saudis who have a controlling stake and generally hasn't done much for us. It should have been sold off long ago and we should try to get a billion at least and use that money to buy better planes.
Re: What are your thoughts on the privitization of PIA?
I think the government should get rid of corporations like these. Maybe sell off like Ptcl. They can sell shares and management but still keep its stake in them. The working of these organisations will improve as well as profitability.
Re: What are your thoughts on the privitization of PIA?
As long as there's a clause that gives the Government the authority to take over the Airline and its' assets in situations that require it, the airline should otherwise be run by non-political affiliates whose hiring and managing practices are from a business standpoint, and not to favor any political entities.