PIA chief executive ousted over corruption allegations
Thursday, 24 Apr, 2017
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Pakistan’s flag carrier has ousted its acting chief executive officer over corruption allegations.
Pakistan International Airlines officially announced German Bernd Hildenbrand was relieved of his duties as CEO.
Hildenbrand was due to go on annual leave earlier this month but was barred from leaving the country.
"My conscience is clear. I haven’t done anything wrong. There’s no question of any corruption on my part. Whatever I did was to the best of my ability and in the best interest of PIA," Hildenbrand said.
"All major transactions were made with the approval of the board of directors and according to the rules."
An investigation was launched by the Federal Investigation Agency centering on his role leasing an aircraft from SriLanka Air at highly inflated costs.
They are also looking at a deal cleared by the former CEO to sell a PIA Airbus A310 aircraft to a German museum which officials say was in violation of regulations.
The agency says PIA lost several million dollars as a result of these transactions.
Chief financial officer Nayyar Hayat will take his place as acting CEO of PIA.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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