PIA generates Rs8 bln revenue in 2019: financial results

 

KARACHI: Pakistan International Airlines (PIA) has generated Rs8 billion revenue besides witnessing 76 per cent reduction in operational losses, ARY News reported on Monday.

The national flag-carrier released its financial results for the year ended December 31 – 2019.

It emerged that the national airline became profitable after approximately eight years following the solid strategies of the current administration.

There was a reduction recorded in operational losses up to 76 per cent. The passenger seat factor hiked to 81 per cent from 71 per cent. It is pertinent to mention here that the seat factor of best airlines around the world remained 80 per cent.

A significant increase of revenue up to 43 per cent was recorded in the year of 2019, adding the overall revenue of Rs140 billion in 2018 which is now standing on Rs148 billion this year.

In previous year, PIA faced financial loss of Rs18 billion and operational loss was recorded up to Rs32 billion which was also shrinked to Rs7.7 billion.

Chief Executive Officer (CEO) PIA Air Marshal Arshad Malik said that 2019 was the year of turn around for the national airline.

The CEO congratulated the workers and labourers of the national airline over the major achievement.