Pakistan International Airlines 3Q2009 revenue down 4%, losses narrow

Pakistan International Airlines reports (30-Oct-2009) the following full financial highlights for the three months ended 30-Sep-2009:

• Revenue: USD264.1 million, -3.6% year-on-year;
• Operating costs: USD276.7 million, -15.4%;
  • Fuel: USD98.0 million, -41.6%;
  • Labour: USD25.9 million, +3.3%;
• Operating profit (loss): (USD12.6 million), compared to a loss of USD52.7 million in the previous corresponding period;
• Profit (loss) before tax: (USD66.8 million), compared to a loss of USD245.2 million in the previous corresponding period;
• Net profit (loss): (USD64.5 million), compared to a loss of USD245.2 million in the previous corresponding period;
• Passenger traffic (RPKs): -9.3%;
• Seat factor: 69.4%, -6.9 ppts;
• Cargo traffic (FTKs): -22.1%. [more]
• *Based on the conversion rate at USD1 = PKR83.36