PIA incurs loss of Rs56bn

The Newspaper's Staff Reporter Published May 19, 2020

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

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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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Life

May 19, 2020 09:21am

Are these audited accounts and prepared under which accounting framework?

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Life

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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Click

May 19, 2020 09:36am

Meaning 56billion less getting scammed by govt.

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Ukasha Rajpoot

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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Ajamd

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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Saif Zulfiqar

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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AAA

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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Ashfaq

May 20, 2020 12:45am

Hence proved that the Uniform can not generate the profits.

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Yousaf Anwar

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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Truth

May 20, 2020 11:05pm

net loss is 56bn