The loss after tax of Pakistan International Airlines Corporation has increased to Rs 4.244 billion in the quarter ended on March 31, 2011 as compared to loss of Rs 2.529 billion posted in the corresponding period in 2010.
The board of directors of the PIA in its meeting held on Thursday declared that the company's loss per A class ordinary share of Rs 10 each has increased to Rs 1.71 in the period under review against Rs 1.18 in the same period last year, while loss per B class ordinary share of Rs 5 each has increased to Re 0.86 against Re 0.59.
According to the financial results sent to Karachi Stock Exchange, the company's net revenue increased to Rs 26.182 billion in this quarter against Rs 22.847 billion in the same quarter last year. In the cost of services, the cost of aircraft fuel increased to Rs 13.106 billion against Rs 8.476 billion while others (cost) increased to Rs 12.272 billion against Rs 11.635 billion. The company's loss before taxation increased to Rs 3.982 billion in the first quarter of 2011 as compared to before tax loss of Rs 2.415 billion in the same quarter in 2010.