The after tax loss of Pakistan International Airlines (PIA) has declined to Rs 5.376 billion in the quarter ended September 30, 2009 as compared to a loss of Rs 20.436 billion recorded in the same quarter in 2008. The board of directors of the corporation in its 322nd meeting held here on Thursday declared that loss per A class ordinary share of Rs 10 each of the corporation has declined to Rs 2.51 in the period under review against Rs 9.79 in the same quarter last year.
The loss per B class ordinary share of Rs 5 each declined to Rs 1.26 against Rs 4.90. According to the financial results, the corporation registered a healthy recovery in its losses, as its before tax losses declined by Rs 14.872 billion to Rs 5.564 billion in this quarter against Rs 20.436 billion losses recorded in the same quarter last year.
The aircraft fuel cost reduced by Rs 5.818 billion to Rs 8.172 billion against Rs 13.990 billion, while the corporation registered a healthy operational improvement of Rs 9.054 billion in this quarter. The net revenue slightly declined to Rs 22.018 billion in the third quarter of 2009 against Rs 22.834 billion in the same quarter last year. As per nine months period ended September 30, 2009, the net loss of the corporation declined by Rs 27.665 billion to stand at Rs 10.771 billion on September 30, 2009 from Rs 38.436 billion recorded in the same period last year.