Private Pakistani airlines report heavy losses despite high ticket prices

Despite relatively expensive airfares in Pakistan, the country’s private airlines have reported significant financial losses on their balance sheets over the past few years.

According to a report aired by the 24NewsHD TV channel, several private carriers struggled financially between 2020 and 2023, with only partial recovery recorded in more recent financial statements.

The report said that Airblue, Serene Air and AirSial collectively faced sustained losses over multiple years during the period from 2020 to 2023.

Meanwhile, Fly Jinnah also reported a loss exceeding Rs3.5 billion in the year 2023, reflecting the difficult operating environment faced by the aviation industry.

According to the yearly financial details, Airblue reported losses in four of the last five years. From 2020 to 2023, the airline recorded cumulative losses amounting to Rs26 billion.

However, the situation improved in the financial year 2024 when Airblue posted a profit of Rs1.5359 billion, marking a return to profitability after several difficult years.

Similarly, Serene Air also faced substantial financial setbacks in two of the past five years. The airline recorded losses exceeding Rs770 million in both 2020 and 2022.

However, the company later managed to move into profit, reporting earnings of about Rs1.5 billion during the period from 2023 to 2025. Despite returning to profitability, Serene Air eventually decided to shut down its operations in Pakistan.

AirSial experienced a similar trajectory following its launch, as the airline remained in the red during its initial years. From 2020 to 2023, AirSial reported losses exceeding Rs5.5 billion.

Nevertheless, the company managed to recover financially in the following two years, recording profits of more than Rs5 billion during that period.

Fly Jinnah also faced financial pressure during the same timeframe. The airline reported losses exceeding Rs3.5 billion in 2023. However, the carrier subsequently improved its financial position and managed to earn profits exceeding Rs5 billion over the last two years.

Reporter: Tayyab Saif