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Pakistan International Airlines almost “turned the corner”


Pakistan International Airlines (PIA) remains surprisingly optimistic for 2009, stating it had “just about turned the corner”, despite a more than doubling of losses last year. PIA’s operating loss reached USD383 million for 12 months ending 31-Dec-08, while net losses ballooned to USD456 million, compared to losses of USD74 million and USD215 million respectively in 2007. The carrier stated that due to improved passenger traffic, a drop in oil prices and relative stability of the Pakistani-Rupee in 4Q2008, it moved closer towards breaking even during the quarter, resulting in the carrier forecasting it will be profitable in 2009. [919 words]

Unlock the following content in this report:


  • Growing its way out of strife with the support of the government
  • Load factor falls despite capacity cuts
  • Continues with expansion plans
  • Pilot strike resolved
  • Launches premium freight cargo

Graphs and data:

  • PIA financial highlights: 12 months ended 31-Dec-08
  • PIA traffic highlights: 12 months ended 31-Dec-08
  • Pakistan International Airlines New Services: Jan-09 to Apr-09
  • Pakistan International Airlines International Route Network
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