The Pakistan International Airlines (PIA) recorded an increase in revenue by 43 per cent in 2019, states an annual report compiled under new Chief Executive Officer Air Marshal Arshad Malik, who resumed charge in March this year.
The report pertaining to the complete results of the national air carrier was submitted to the Pakistan Stock Exchange today.
The PIA increased its annual revenue in 2019 from Rs104 billion to Rs148 billion, the report mentioned.
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 in 2018, the airline suffered a gross loss of Rs18 billion 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% decline in the total operational loss.
Two years back, in 2018, the gross operational loss amounted to Rs32 billion that was reduced to Rs7.70 billion in 2019.
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.
