KARACHI: In a positive development, PIA losses saw massive drop in 2019.
The government’s efforts to turn the Pakistan International Airlines (PIA)into a profitable organisation seem to be bearing fruit as the nationalflag carrier’s losses saw a significant drop in first six months of 2019.
According to figures acquired by ARY News, the airline’s revenue rose by44.1 per cent from Jan to Jun of the current year.
PIA pocketed a revenue of Rs94.73 billion as against Rs65.72 billion oflast year’s corresponding period, registering an increase of Rs29 billion.
The airline’s operating losses declined by a whopping 75 per cent to Rs5billion from Rs21 billion recorded during the same period of 2018. Thenational flag carrier’s net operating losses saw a drop of 48.7 per cent.
PIA’s revenue rose because of an increase in profit-making routes of theairline.
Earlier, on Nov 21, the Pakistan International Airlines (PIA) had inductedan Airbus-320 in its fleet on dry lease, bringing the number of airbuses to12.
The aircraft was handed over to PIA, according to PIA’s spokesman. Anotherair-bus will be inducted into the PIA’s fleet on December 6.
Currently, the number of the fleet has jumped to 34, while PakistanInternational Airlines is planning to induct three more planes to its fleetin 2020.