Karachi August 25 2022: Due to improvement in travelling and resumption of Hajj flights despite challenging environment on account of increase in fuel prices, PIA gross loss reduced to PKR 2.68 billion compared with PKR 8.9 billion in the same period last year.
Airline post operating loss of PKR 7.4 billion during the first half, as per company filling to the exchange.
PIAA booked exchange loss of PKR 13.8 billion compared to exchange gain of PKR 1.3 billion in the same period last year.
Finance cost of the national carrier increased to PKR 21.7 billion from PKR 12.2 billon in first six month 2021 due to higher interest rates.
As a result, loss of the PIAA increased to PKR 43.4 billion in first six months of 2022 compared to PKR 26.5 billion in 2021.
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.
