Pakistan International Airlines operating loss more than doubles in 2Q2012

Pakistan International Airlines revenue down 6% - financial highlights for three months ended 30-Jun-2012:

• Revenue: PKR30,934 million (USD338.6 million), -5.6% year-on-year;
  • Passenger: PKR25,112 million (USD274.9 million), -5.2%;
  • Cargo: PKR1452 million (USD15.9 million), -14.1%;
  • Room, food and beverage sales: PKR3078 million (USD33.7 million), +16.2%;
• Cost of services: PKR29,521 million (USD323.1 million, -3.8%;
  • Fuel: PKR15,086 million (USD165.1 million), -8.3%;
  • Labour: PKR5003 million (USD54.8 million), +89.6%;
• Operating profit (loss): (PKR6518 million) (USD71.3 million), compared to a loss of PKR2730 million (USD29.9 million) in p-c-p;
• Net profit (loss): (PKR9592 million) (USD105.0 million), compared to a loss of PKR5926 million (USD64.9 million) in p-c-p;
• Total assets: PKR187,521 million (USD2053 million), +4.1% when compared to period ended 31-Dec-2011;
• Cash and bank balances: PKR5398 million (USD59.1 million), +66.6% when compared to period ended 31-Dec-2011;
• Total liabilities: PKR257,390 million (USD2817 million), +9.6% when compared to period ended 31-Dec-2011. [more - original PR]

*Based on the average conversion rate at USD1 = PKR91.3592 for the period