PIA revenue increased by Rs2 bn in 2017

KARACHI: Pakistan International Airline (PIA) released its financial report for the year 2017, which marked an increase of Rs2 billion in the revenue of the national flag carrier.

The report, which was issued by a year’s delay, revealed that the losses of PIA swelled by Rs3 billion in 2017. In 2016, the deficit was recorded at Rs44.7 billion.

Exchange deficit of the PIA 2017 stood at Rs2.2 billion.

However, the total revenue generated by the airline in 2017 was Rs104 billion.

The report has also been sent to the Stock Exchange by the PIA.

Earlier in February, the national flag carrier achieved the revenue of Rs12 million on excess baggage earning in January,

The Lahore station manager said the PIA saved more than Rs2.5 million at Lahore station every month by relocating its offices.

The PIA was paying the rent for more than 23 offices at the Lahore airport to the Civil Aviation Authority (CAA). However, the national airline has vacated 22,000 square foot place of the CAA now.

The PIA has shifted different offices into its complex, which would save it money every month.