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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Pakistan national airline staff end strike -pilots Reuters - Saturday, February 12 Send IM Story Print *Airline meets strikers' demands - pilots' association *Strike has cost more than 1 bln rupees By Faisal Aziz KARACHI, Feb 11 - The staff of Pakistan's national airlines on Friday ended a strike, which had grounded all flights, after their demands were met, said Sohail Baluch, chief of the Pakistan Airline Pilots' Association . The strike, which has cost Pakistan International Airlines , began on Tuesday in protestest over a proposed codeshare agreement with Turkish Airlines <THYAP.IS>. Strikers were also demanding the removal of PIA's managing director, Aijaz Haroon, a pilot considered a close friend of President Asif Ali Zardari, and immediate reinstatement of staff recently suspended or dismissed. "We are ending our strike from midnight. All our demands have been met," said Baluch. PIA was not available to comment. Under the proposed deal with Turkish Airlines, which is yet to be approved by the government and regulators, PIA would relinquish some of its lucrative European and U.S routes. This includes flights to Germany, Spain, Italy, France, the Netherlands, Chicago and New York. According to a joint action committee of PIA employees, handing over these profitable routes will deprive the national airline of billions of rupees in revenue. Like many state businesses in Pakistan, PIA has been hit hard by mounting debts and mismanagement. Analysts say any move on the part of the government to further subsidise PIA or other ailing national institutions will not bode well with international donors. PIA reported losses of 11.7 billion rupees in the nine months to Sept. 30, 2010, when its cumulative losses stood at 83.7 billion rupees. In November 2010, PIA asked the government to write off losses and debt of about $1.7 billion to save it from bankruptcy, a tough ask for the government which relies heavily on foreign aid, and an International Monetary Fund loan programme that, among its many conditions, calls on the government to reduce subsidies and spending. (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) Recommend Send IM Story Print Related Articles Pakstani c.bank to buy t-bills in 6-day reverse-repo Reuters - 2 hours 16 minutes ago Vietnam drops dong by 0.1 pct after devaluation Reuters - 2 hours 44 minutes ago US-BUSINESS Summary Reuters - 2 hours 54 minutes ago Fed's Plosser says U.S. deflation risk gone: report Reuters - 2 hours 55 minutes ago TABLE-Bangladesh key economic indicators - Feb 12 Reuters - Saturday, February 12 News Search Top Stories Obama's high-speed rail faces political challenge Republicans plan cuts to US State Dept, UN contribution Egypt Live Report US unveils housing market overhaul US trade gap widens as China deficit hits record More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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