27-Aug-2010 10:52 AM

Pakistan International Airlines' net losses continue to widen in 2Q2010

Pakistan International Airlines reported widening net losses* of USD51.2 million in the three months ended 30-Jun-2010, compared with a net loss of USD39.3 million in the previous corresponding period, attributable to a 74% year-on-year increase in fuel costs to USD127.8 million (Bloomberg, 26-Aug-2010). The carrier reported a 28% increase in revenues to USD310.6 million.

*Based on the conversion rate at USD1 = PKR85.31.