Pakistan International Airlines reports deep losses in 3Q2011

Pakistan International Airlines reports (03-Nov-2011) the following consolidated financial highlights for the 3 months ended Sep-2011:

• Revenue*: USD356.7 million, +11.3% year-on-year;
• Cost of services: USD336.8 million, +16.4%;
• Profit/loss from operations: (USD59 million), compared to a loss of USD17.8 million in p-c-p;
• Net profit: (USD95.2 million), compared to a loss of USD50.1 million in p-c-p;
• Passenger traffic (RPKs): -1.0%;
• Seat factor: 74.1%, +0.1 ppt.
• Cargo traffic (FTKs): -14.9%.
• Cargo load factor: 65.2%, -12.5 ppts. [more - original PR]

*Based on the conversion rate at USD 1 = PKR86.13