Govt's efforts bear fruit as PIA losses drop significantly

KARACHI: The government’s efforts to turn the Pakistan International Airlines (PIA) into a profitable organisation seem to be bearing fruit as the national flag carrier’s losses saw a significant drop in first six months of 2019.

According to figures acquired by ARY News, the airline’s revenue rose by 44.1 per cent from Jan to Jun of the current year.

PIA pocketed a revenue of Rs94.73 billion as against Rs65.72 billion of last year’s corresponding period, registering an increase of Rs29 billion.

The airline’s operating losses declined by a whopping 75 per cent to Rs5 billion from Rs21 billion recorded during the same period of 2018. The national flag carrier’s net operating losses saw a drop of 48.7 per cent.

PIA’s revenue rose because of an increase in profit-making routes of the airline.

Earlier, on Nov 21, the Pakistan International Airlines (PIA) had inducted an Airbus-320 in its fleet on dry lease, bringing the number of airbuses to 12.

The aircraft was handed over to PIA, according to PIA’s spokesman. Another air-bus will be inducted into the PIA’s fleet on December 6.

Currently, the number of the fleet has jumped to 34, while Pakistan International Airlines is planning to induct three more planes to its fleet in 2020.