PIA Becomes a Profitable Airline After 21 Years

Pakistan International Airlines (PIA) has achieved a remarkable financial turnaround, becoming a profitable organization after 21 years. The airline’s Board of Directors has officially approved the annual financial results for 2024, marking a significant milestone in its history.

According to the approved results, PIA recorded an operational profit of Rs. 9.3 billion and a net profit of Rs. 26.2 billion in 2024. The airline’s operating margin exceeded 12%, which is comparable to some of the world’s leading airlines. PIA had last reported a profit in 2003, after which it remained in the loss for the next two decades.

This impressive recovery has been attributed to several key reforms introduced under the government’s supervision. These measures included reducing workforce size, cutting unnecessary expenses, focusing on profitable routes, and restructuring the airline’s balance sheet. These efforts played a vital role in transforming PIA into a profitable entity once again.

Defense Minister Khawaja Asif officially announced this financial success, calling it a major milestone towards the airline’s privatization process. The turnaround is expected to not only restore PIA’s reputation but also positively impact Pakistan’s economy.