Abstract
Aim of this study is to explore historical trajectory of corporate governance with reference to its introduction in Pakistan International Airlines. The corporation has experienced hard criticism due to its poor performance, corruption and inefficiency. Study is based on secondary data analysis of annual reports, news reports archives, and important documents related to Pakistan International Airlines Corporation Limited (PIACL) for a period from 2002 up to 2016. Findings reveal corporation earned embarrassment to organization for several reasons such as deteriorating performance, mismanagement, conflicts between management and union, overstaffing, inadequate number of aircrafts in fleet, discriminatory human resource policies, staff’s involvement in smuggling, unsound practices of transparency and accountability. Though corporation adopted corporate governance in 2002, however, it has consistently sown discouraging performance despite various equity injections and bailout packages.
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