PIA revenue up by 12pc in six months

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Pakistan International Airlines (PIA) is continuing on path of recovery as during last six months the revenue increased by Rs 6 billion or 12 percent to Rs 53.4 billion as against Rs 47.6 billion during the first six months of 2013.

The national flag carrier also earned a gross profit of Rs 339 million whereas the decline in operational losses stood at 80 percent to Rs 2.5 billion and 45 percent reduction in loss after tax to Rs 10 billion compared with Rs 18.4 billion in the corresponding period of 2013.

This was told in PIA’s 359th Board of Directors meeting which was held at the airlines Head office. PIA Chairman Muhammad Ali Gardezi chaired the meeting. Managing Director Shahnawaz Rehman was also present in the meeting.

The board was informed that during the first six months of 2014, the airline managed to restrict loss to 10.1 billion which is Rs 8.25 billion less as compared to the corresponding period of 2013. The main reasons for reduction in loss were due to higher revenue and controlled expenditure.