PIA incurs loss of Rs56bn
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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
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Comments (10) Closed
May 19, 2020 09:21am
Are these audited accounts and prepared under which accounting framework?
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May 19, 2020 09:22am
43% jump in revenues within a year with the same fleet? That seems a number gimmick.
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May 19, 2020 09:36am
Meaning 56billion less getting scammed by govt.
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May 19, 2020 09:59am
Did pretty well in 2019 compared to last year. Pandemic caused much of this loss. They are in good hands, might get out of this trauma soon.
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May 19, 2020 10:44am
Please don't just blame PIA. There are hundreds of politicians who get free ticket from PIa. Then there are kids of these politicians and many other VIPs who get free tickets. PIA doesn't get money from govt for these expenditures. How are they suppose to earn money when many consider PIA tickets as freebies.
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May 19, 2020 11:12am
Thai Airways have filed for bankcurrupcy. People have stopped flying as the Codiv-19 is in every country.
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May 19, 2020 01:06pm
If we sale just PIA, Steel mills and Railway, then we may can build dams and infrastructure without imposing any new taxes, but problem is that all political parties now including PTI workers got job in them so public have to pay the price, no matter what they will never privatized.
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May 20, 2020 12:45am
Hence proved that the Uniform can not generate the profits.
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May 20, 2020 04:36pm
Profit is always calculated by Net figures and not gross. Same fleet with shrunked network, this all not true.
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May 20, 2020 11:05pm
net loss is 56bn
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