Pakistan International Airlines (PIA) has reported a net profit for the first time in 21 years, according to the airline’s financial results approved by its Board of Directors.
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As per the official statement, the national carrier posted an operational profit of Rs. 3.9 billion and a net profit of Rs. 2.26 billion for the year 2024. The airline’s operating margin crossed 12%, bringing it in line with some of the world’s top-performing airlines.
This marks a major turnaround for PIA, which last recorded a profit in 2003 and had been operating at a loss for the past two decades. The return to profitability comes after the implementation of a series of structural reforms under government supervision.
These reforms included significant cost-cutting measures, workforce optimization, stabilizing profitable routes, eliminating loss-making operations, and restructuring the airline’s balance sheet.
Defence Minister Khawaja Asif formally announced the milestone, stating that PIA’s return to profitability would enhance the airline’s reputation and contribute positively to the national economy. He added that this financial recovery holds particular significance as the government proceeds with plans to privatize the airline.
