KARACHI: Pakistan International Airlines (PIA) has achieved net profitability for the first time in 21 years, according to financial results approved by the airline’s Board of Directors.
According to the spokesman, the national carrier reported an operational profit of 3.9 billion rupees and a net profit of 2.26 billion rupees for the year 2024.
PIA’s operating margin exceeded 12 percent, placing it on par with some of the world’s leading airlines in terms of performance metrics.
The airline last recorded a profit in 2003 and had been operating at a loss for the past two decades. This turnaround comes following comprehensive reforms implemented under the government’s supervision. These reforms included significant reductions in workforce and expenses, stabilization of profitable routes, elimination of loss-making routes, and balance sheet restructuring.
Defense Minister Khawaja Asif formally announced this achievement, noting that PIA’s return to profitability would not only enhance the airline’s reputation but also benefit Pakistan’s economy. He emphasised that this strong financial performance is particularly significant for the airline’s privatisation plans.
Copyright Business Recorder, 2025
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