Pakistan International Airlines’ (PIA) losses surged to Rs. 97.2 billion in the calendar year 2022 (CY22) compared to losses of Rs. 53.4 billion reported in the previous calendar year (CY21).
According to the airlines’ financial results for CY22 announced on Friday, the gross loss came in at Rs. 755 million compared to the gross loss of Rs. 8.4 billion reported in CY21.
The airlines’ cost of services (that includes aircraft fuel and others) stood at Rs. 179 billion in CY22 compared to Rs. 96 billion reported in the previous year, primarily due to a jump in the cost of aircraft fuel from Rs. 22.8 billion to Rs. 79.6 billion during the year.
The company’s loss from operations (operating loss) stood at Rs. 15 billion in 2022 compared to an operating loss of Rs. 18 billion reported in 2021. PIA’s net exchange loss stood at Rs. 25.2 billion in CY22 compared to a net exchange loss of Rs. 7.3 billion reported in CY21.
PIA’s finance costs came in at Rs. 51.7 billion in CY22 compared to the finance cost of Rs. 28.5 billion reported in CY21. The company also posted an unrealized loss on investment property of Rs. 8.3 billion in CY22.
Who’s responsible for the losses, obviously the ex minister of the aviation Mr. Ghulam Sarwar who left the PTI and in the next few days will join any other party. Unfortunately Pakistan it is the normal routine for the oppotuinists of the country .
Yes, the ex under matric minister Ghulam Sarwar. This govt should have opened an enquiry against him and others, including Imran Khan, on whose approval that semi literate made a statement in the parliament, (most of which turned out to be false in the end). This stupid statement by Sarwar amounts to Treason
PIA making heavy losses while Airblue is making profit, Pakistan steel mill is making heavy losses and Ittefaq Foundary is making profit. When N League leader Khakan Abbasi can run Airblue in Profit and Sharif Family can run Foundary business in profit why they can not run the same business in profit when it comes to state owned business ????.
It’s been a rubbish airline for decades.
Lack of investment, poorly trained cabin crew staff, disorganisation and awful food too.
It’s time for PIA to be grounded for good
Jese Pakistan k halaat hain or iski aam awaam k which excludes elites waisay he mulk ki airline k halaat hain.
Rubbish Airline.No one wants to Travel in this airline.They sold the flagship to people for many years with pathetic service, now people know what to expect from this airline, thats why no one wants to travel on this.No professionalism at all.