PIA incurs loss of Rs56bn

Updated May 19, 2020

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For the first time in eight years, PIA has been able to achieve gross profit of Rs7.8bn versus gross loss of Rs19.7bn in 2018. — Reuters/File
For the first time in eight years, PIA has been able to achieve gross profit of Rs7.8bn versus gross loss of Rs19.7bn in 2018. — Reuters/File

RAWALPINDI: Pakistan Inter­national Airlines posted loss after tax at Rs56.04 billion in 2019, down from Rs66.66bn in 2018 — showing a decline of 15.9 per cent.

This translated into loss per class A share of Rs10.69, from Rs12.77.

The airlines’ revenues jumped 43pc to Rs147.5bn for 2019, as against Rs103.5bn in 2018.

According to the press release, the company said for the first time in eight years, it has been able to achieve gross profit of Rs7.8bn versus gross loss of Rs19.7bn in 2018.

Published in Dawn, May 19th, 2020