Key points
- PIA has earned a net profit of Rs2.26bn
- Premier has described it as a major turnaround
- The airline has undergone comprehensive reforms
ISLAMABAD: Pakistan International Airlines’ (PIA) board of directors has approved its financial results for 2024, showing an operational profit of Rs3.9 billion and a net profit of Rs2.26bn, Pakistan’s state-run news agency APP reported.
Dawn News also reported that for FY2024, PIA earned an operational profit of Rs3.9 billion and a net profit of Rs2.26bn.
The airline’s operating margin was more than 12pc, which is on a par with the performance of any of the best airlines in the world, the newspaper cited a spokesperson of PIA as saying. The airline last achieved profit in the year 2003.
Struggling airline
Pakistan’s Prime Minister Shehbaz Sharif has also expressed satisfaction over the profit recorded by PIA. In a statement, he described it as a major turnaround after decades of losses.
He lauded the country’s Minister for Defence, Khawaja Asif, and his team in the aviation.
Defence Minister Khawaja Asif said that through the government’s rigorous steps and comprehensive reforms entailing cost and workforce rationalization, routes optimization and financial discipline, PIA is poised to capitalise on financial performance through the privatisation process.
Another good news! Alhamdolilah
PIA set to post its first profit in 20 years ,a major turnaround after decades of losses.
The skies ahead look brighter, INSHALLAH!
Great team effort led by Khawaja Asif, Minister Aviation @KhawajaMAsif— Shehbaz Sharif (@CMShehbaz) April 9, 2025
Dawn News reported that recently, the struggling airline had undergone comprehensive reforms and restructuring.
In this process, PIA’s manpower and expenditures were considerably reduced while measures such as ensuring stability in profitable routes, shutting down loss-making routes, and restructuring its balance sheet were taken, according to local media reports.
