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PIA revenue up 15%, operating loss narrows in 3Q2010

2-Nov-2010 11:56 AM

Pakistan International Airlines reports (01-Nov-2010) the following consolidated financial highlights for the three months ended 30-Sep-2010:

  • Revenue*: USD321.1 million, +14.8% year-on-year;
  • Cost of services: USD291.9 million, +17.0%;
    • Fuel: USD130.2 million, +36.9%;
    • Landing and handling: USD36.5 million, +19.3%;
    • Labour: USD28.1 million, +13.8%;
  • Other costs: USD49.3 million, -22.9%;
  • Operating profit (loss): (USD20.1 million), compared with a loss of USD33.8 million in p-c-p;
  • Profit (loss) before tax: (USD48.0 million), compared with a loss of USD61.4 million in p-c-p;
  • Net profit (loss): (USD52.4 million), compared with a loss of USD60.2million in p-c-p;
  • Net operating cash flow: USD50.6 million, compared with a negative cash flow of USD27.6 million in p-c-p;
  • Passenger numbers: n/a, +9.4%;
  • Yield: USD 6.81 cents, +1.4%;
  • Total assets: USD2,417 million, +0.6% when compared with the period ended 31-Dec-2009;
  • Cash and bank balances: USD90.9 million, +66.5% when compared with the period ended 31-Dec-2009;
  • Total liabilities: USD1,781 million, -4.3% when compared with the period ended 31-Dec-2009. [more]

*Based on the conversion rate at USD1 = PKR85.95