PIA turns in heavy full-year losses
Pakistan International Airlines has turned in a full-year pre-tax loss of Rs35.5b ($224.6m), the airline’s latest financial statement reveals. The flag-carrier’s loss to 31 December 2020 was lower than the previous Rs53.3b despite the effects of the air transport crisis. PIA’s revenues for the year nevertheless were down by 35% at just under Rs95b. Fuel costs were down by 58% and while the airline’s gross profit was heavily reduced, its operating loss, at Rs680m, was substantially lower than that of 2019. PIA’s net loss for the year reached Rs34.6b.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-04-13/unaligned/pia-turns-in-heavy-full-year-losses
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PIA turns in heavy full-year losses
Pakistan International Airlines has turned in a full-year pre-tax loss of Rs35.5b ($224.6m), the airline’s latest financial statement reveals. The flag-carrier’s loss to 31 December 2020 was lower than the previous Rs53.3b despite the effects of the air transport crisis. PIA’s revenues for the year nevertheless were down by 35% at just under Rs95b. Fuel costs were down by 58% and while the airline’s gross profit was heavily reduced, its operating loss, at Rs680m, was substantially lower than that of 2019. PIA’s net loss for the year reached Rs34.6b.<br/>
