KARACHI, Dec 7: A press release issued by PIA’s public affairs and communication division says that the airline’s cargo section is functioning as a profit-earning service and making a net contribution of Rs3 billion to its operations after meeting operational and establishment costs, including the cost of freighter operation.

In response to a report published in Dawn on Wednesday, it said that had PIA not operated freighter aircraft its market share would have dropped affecting the economics of passenger aircraft operations as well.

The press release said that by operating the freighter service the airline was able to cater to a large segment of cargo market.

“Currently our market share out of Pakistan is 51 per cent, while over 15 airlines are competing for cargo with PIA in Pakistan,” it said.

The press release said that in the absence of freighters, other airlines would have carried a much bigger share of Pakistan’s cargo market. “PIA’s market share to Pakistan has also considerably increased to 42 per cent,” it said.It said that at present cargo’s contribution to PIA’s overall revenue was nine per cent, while in other carriers it was up to 20 per cent.