PIA Reports First Profit in 21 Years Marks Major Turnaround
In a post on X (formerly Twitter), the Prime Minister wrote: “Another good news! Alhamdulillah. PIA set to post its first profit in 20 years — a major turnaround after decades of losses,” adding, “The skies ahead look brighter, Inshallah!”
He also praised Minister for Aviation Khawaja Asif for his role in the national carrier’s recovery, stating: “Great team effort led by Khawaja Asif, Minister for Aviation.”
PIA breaks two-decade loss streak with record net profit
Notably, the Pakistan International Airlines (PIA) Board of Directors has officially approved the airline’s financial results for 2024, marking a major milestone as the national carrier reported its first net profit in 21 years.
According to the approved financial statement, PIA recorded an operational profit of Rs 3.9 billion and a net profit of Rs 2.26 billion for the year 2024. This marks the airline’s first profitable year since 2003.
The airline’s operating margin stood at over 12 percent, a figure comparable to the performance of some of the world’s leading airlines.
PIA’s return to profitability is being credited to wide-ranging reforms carried out under the supervision of the Government of Pakistan.
These reforms included reducing workforce and operational costs, consolidating profitable routes, eliminating loss-making routes, and restructuring the airline’s balance sheet.
This financial turnaround is expected not only to restore PIA’s reputation but also to contribute positively to Pakistan’s overall economy.
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