Karachi March 10 2022: Due to extremely challenging environment on account of COVID 19 restrictions, PIA has attained gross loss of PKR 8.4 billion and operating loss of PKR 15.0 billion during the year 2021, as per company filling to the exchange.
PIAA booked exchange loss of PKR 7.4 billion compared to PKR 5.0 billion in 2020.
Finance cost of the national carrier decreased to PKR 27.3 billion from PKR 29.7 billon in 2020 due to lower interest rates.
As a result, loss of the PIAA increased to PKR 50.1 billion in 2021 compared to PKR 34.6 billion in 2020.
PIA was incorporated in Pakistan on January 10, 1955. The principal activity of the Corporation is to provide commercial air transportation, which includes passenger, cargo and postal carriage services. Other activities of the Corporation include provision of engineering and other allied services.
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