In the first quarter of 2023, PIA makes about $60 million.
Parliamentary Secretary for Railways Kiran Imran Dar told the National Assembly on Friday that the Pakistan International Airlines (PIA) made a profit of around Rs60 million in the first quarter (January-March) of the year 2023. This is a big deal.
In response to a question during “Question Hour,” she said that the PIA paid a markup of Rs60 million on loans it got every now and then.
She also said that the national flag carrier’s losses went down in 2020 and 2021 because of the COVID-19 outbreak, which limited flight operations in 2020, and because the company took a lot of steps to cut costs, such as cutting employees’ salaries voluntarily, reducing capacity, and putting more focus on cargo and charter operations during the pandemic.
Dar said that the trend of losses going down could have kept going, but it didn’t because fuel prices went up, the dollar exchange rate went up, and interest rates went up.