PIA suffers Rs42.72 billion loss during last nine months

By: News Desk      Published: 03:33 PM, 28 Oct, 2021
PIA Aircraft on runway
File photo.

The Pakistan International Airline has suffered a loss of Rs42.72 billion in the first nine months of 2021, reported 24NewsHD TV channel.

The national flag carrier released on Thursday the financial report of the last nine months of the current year. According to the report, the PIA bore a loss of Rs42.72 billion while in the same period of corresponding year 2020, the national flag carrier suffered a loss of Rs40 billion. This year the state entity has to bear an extra loss of Rs5.18 billion ostensibly due to devaluation of rupee. 

According to the report, a vivid decrease in the income of PIA Karachi has been witnessed as it has earned Rs49.36 billion from January to September 2021 while it earned Rs74.36 billion in the same period last year.

The PIA spent Rs13.44 billion under the head of aircraft fuel charges. Last year during first nine months, it had spent Rs18.08 billion under the same head.

The financial report revealed that the administrative expenditures have come down from Rs4.53 billion to Rs3.97 billion. 

The PIA has suffered a loss of Rs5.18 billion in the last 9 months due to devaluation of Pak rupee. Last year in the same period, the PIA bore a loss of Rs5.57 billion owing to rupee devaluation. 

Reporter Ashraf Khan