Pakistan International Airlines (PIA) has marked a historic turnaround by posting a net profit after 21 years of continuous losses. The airline’s Board of Directors approved its annual financial results for 2024, revealing an operational profit of Rs 9.3 billion and a net profit of Rs 26.2 billion. With an operating margin exceeding 12%, PIA’s performance now rivals some of the world’s leading airlines.
The last time PIA recorded a profit was in 2003, followed by two decades of financial struggles. However, under the government’s comprehensive reform initiatives, the airline underwent significant restructuring, including workforce optimization, cost reductions, consolidation of profitable routes, and discontinuation of loss-making operations. These measures played a crucial role in reviving the national carrier.
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Defense Minister Khawaja Asif highlighted the achievement, stating that PIA’s operational profit stood at Rs 9.5 billion, with a net profit of Rs 26 billion last year. The return to profitability is expected to enhance PIA’s credibility and contribute positively to Pakistan’s economy.
