Loading

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.

Become a CAPA Member to access Analysis Reports

This CAPA Premium Analysis Report is 910 words.
Become a CAPA Member

Our Analysis Reports are only available to CAPA Members. CAPA Membership provides exclusive access to in-depth insights on the latest developments in the aviation and travel industry, developed by our team of dedicated analysts located in Europe, North America, Asia and Australia.

Each report offers a fresh perspective on the latest industry trends and is available online or via the CAPA mobile app, with customisable alerts to help you stay informed and identify new business opportunities.

CAPA Membership also provides access to our full suite of tools, including a tailored selection of more than 400 News Briefs every weekday and comprehensive data and analysis on thousands of companies around the world.