Pakistan International Airlines revenue up 17.6% but losses widen in 1H2010

Pakistan International Airlines revenue up 17.6% -full financial highlights for the six months ended 30-Jun-2010:

• Revenue*: USD577.3 million, +17.6% year-on-year;
  • Excess baggage: USD5.7 million, +7.5%;
• Operating costs:
  • Fuel: USD227.9 million, +57.3%;
• Operating profit (loss): (USD20.5 million), compared with a loss of USD12.3 million in p-c-p;
• Profit (loss) before tax: (USD75.0 million), compared with a loss of USD68.4 million in p-c-p;
• Net profit (loss): (USD80.8 million), compared with a loss of USD64.2 million in p-c-p;
• Passenger numbers: 2.9 million, +8.4%;
• Load factor: 76.2%, +4.0 ppts;
• Yield: USD 7.05 cents, +8.3%;
• Total assets: USD1,852 million, -1.2%;
• Cash and bank balances: USD28.0 million, +221.8%;
• Total liabilities: USD2,162 million, +2.1%;
• Net operating cash flow: (USD5.2 million), compared with a negative cash flow of USD24.2 million in p-c-p. [more]

*Based on the conversion rate at USD1 = PKR85.41