PIA likely to register profit after 20-year

Pakistan International Airlines (PIA) is set to post an annual profit for the first time since 2003, signaling a major shift for the national carrier that has long been weighed down by debt, mismanagement, and state dependency. 

According to audited documents, PIA recorded an earning of Rs5.01 per share for the year ending December 2024. The report will be submitted to the board before it is made public. 

This profitability comes at a critical time, as the government is once again moving to privatize the airline, after a failed attempt last year due to underwhelming bids. To make the deal more viable, authorities transferred around 75% of the airline’s debt to state books. 

Now, with PIA reportedly free of financial liabilities, earlier bidders are showing renewed interest. Fresh bids are due this month. However, profitability alone doesn’t tell the full story. The airline has been restructuring its operations aggressively over the past three years. It reduced staff by nearly 30%, cut loss-making routes, and focused on better fleet utilization. With its debt burden lifted, PIA has finally had room to breathe—and act. 

The turnaround is now reflecting in its operations as well. PIA has resumed flights to Skardu from four key cities—Islamabad, Karachi, Lahore, and Dubai. The direct international connection from Dubai to the tourist hotspot begins on May 16 and will operate every Friday. Daily flights from Islamabad are already underway, while routes from Karachi and Lahore will operate multiple times a week.