Pakistan International Airlines remains in the red in 1Q2013

Pakistan International Airlines revenue down 4% - financial highlights for three months ended 31-Mar-2013:

• Revenue: PKR27,622 million (USD282.2 million), -3.7% year-on-year;
  • Passenger: PKR22,459 million (USD229.5 million), -6.4%;
  • Cargo: PKR1532 million (USD15.7 million), +13.7%;
  • Excess baggage: PKR225.4 million (USD2.3 million), -11.5%;
• Costs:
  • Fuel: PKR14,244 million (USD145.5 million), -6.0%;
  • Labour: PKR3322 million (USD33.9 million), -26.2%;
• Operating profit (loss): (PKR4300 million) (USD43.9 million), compared to loss of PKR4893 million (USD50.0 million) in p-c-p;
• Net profit (loss): (PKR7461 million) (USD76.2 million), compared to a loss of PKR7909 million (USD80.8 million) in p-c-p;
• Total assets: PKR200,933 million (USD2053 million), +3.9% when compared to period ended 31-Dec-2012;
• Total liabilities: PKR287,791 million (USD2940 million), +5.7% when compared to period ended 31-Dec-2012. [more - original PR]

*Based on the average conversion rate at USD1 = PKR97.8753