Pakistan International Airlines reported an increase in revenue by 43 per cent in 2018, according to an annual report compiled under the new CEO’s supervision.
Air Marshal Arshad Malik, who resumed charge as PIA’s CEO in March this year, has shared the report with the Pakistan Stock Exchange pertaining to the complete results of the national air carrier on Monday.
The report mentions that the PIA increased its annual revenue in 2019 from Rs104 billion to Rs148 billion.
The increase in revenue brought to the fore the fact that the national airline recorded a gross profit for the first time in the past eight years.
The report mentioned that the airline suffered a gross loss of Rs18 billion in 2018 which it converted into a gross profit of eight billion the very next year.
In the results issued for the year 2019, PIA recorded a 76 per cent decline in the total operational loss.
In the first half of 2019, the national airline closed the year at a loss of more than Rs7 billion, but evened it out in the second annual half.
The airline saw a few hiccups regarding the supervision of its operations as its CEO Arshad Malik was stopped from performing his duties in December 2019 by the Sindh High Court.
