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9-Apr-2025 1:32 AM

Pakistan International Airlines achieves first profit in 21 years

Pakistan's Minister of Defence Khawaja M Asif, via his official Twitter account, announced (08-Apr-2025) Pakistan International Airlines achieved an operating profit of PKR9.3 billion and net profit of PKR26.2 billion in FY2024. The result marks the first time the carrier has turned a profit in 21 years, with Mr Asif crediting the performance to "cost and workforce rationalisation, routes optimisation and financial discipline with balance sheet restructuring".

Background ✨

Pakistan International Airlines (PIA) faced significant financial challenges in recent years, with a net loss of PKR60.7 billion in 1H2023, largely due to PKR depreciation and increased interest rates1. The airline's financial difficulties have been ongoing, with losses of PKR43.5 billion in 1H20222. PIA's losses date back further, including a PKR34.6 billion net loss in 20203. Despite these setbacks, the carrier achieved a profit in FY2024, marking a significant turnaround.

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