{"id":70128,"date":"2025-04-09T12:25:41","date_gmt":"2025-04-09T07:25:41","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=70128"},"modified":"2025-04-09T12:25:41","modified_gmt":"2025-04-09T07:25:41","slug":"pia-posts-annual-net-profit-after-21-years","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/pakistan\/pia-posts-annual-net-profit-after-21-years\/","title":{"rendered":"PIA posts annual net profit after 21 years"},"content":{"rendered":"<div class=\"td_block_wrap tdb_single_content tdi_18 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_18\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>ISLAMABAD: Pakis\u00adtan International Airlines (PIA) has achieved an <a href=\"https:\/\/dailyausaf.com\/en\/pakistan\/pia-announces-pre-hajj-operation-for-this-year-pilgri\/\">annual net profit<\/a> for its fin\u00adancial year 2024 for the first time in more than two decades ahead of the government&#8217;s attempt to sell the airline.<\/p>\n<p>The PIA spokesperson said that the national flag carrier earned an operational profit of Rs3.9 billion and a net profit of Rs2.26 billion. The airline last achie\u00adv\u00ad\u00aded profit in the year 2003.<\/p>\n<\/div>\n<p>&#8220;The airline\u2019s operating margin was more than 12pc, which is on a par with the performance of any of the best airlines in the world,&#8221; the spokesperson said.<\/p>\n<div class=\"tdb-block-inner td-fix-index\">\n<p>The country&#8217;s Defence and Aviation Minister, Khawaja Asif, in a post on X, said that the PIA Board of Directors meeting approved its fin\u00adancial results for 2024, which showed airlines&#8217; operational and net profit.<\/p>\n<p>Asif said that the process of the airline\u2019s privatisation would benefit from this development.<\/p>\n<div class=\"td_block_wrap tdb_single_content tdi_18 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_18\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>According to\u00a0<em>Bloomberg<\/em>, the results mark a turnaround for the airline, whose financial losses have seen its aircraft being impounded at foreign airports, flights cancelled, and the carrier running close to a default in recent years.<\/p>\n<p>The government tried, and failed, to sell its airline last year after the initial bid fell short of the minimum price of about $306 million. Now, it is making another push, with initial bids due later this month.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"td_block_wrap tdb_single_content tdi_18 td-pb-border-top td_block_template_1 td-post-content tagdiv-type\" data-td-block-uid=\"tdi_18\">\n<div class=\"tdb-block-inner td-fix-index\">\n<p>Prime Minister Shehbaz Sharif termed PIA\u2019s return to earning profit after 20 years a \u201cmajor turnaround\u201d after decades of losses.<\/p>\n<p>\u201cAnother good news! Alhamdolilah! PIA set to post its first profit in 20 years, a major turnaround after decades of losses,\u201d the prime minister said in a statement on X.<\/p>\n<div class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-3\">&#8220;The skies ahead looks brighter, God willing,&#8221; he wrote.<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: Pakis\u00adtan International Airlines (PIA) has achieved an annual net profit for its fin\u00adancial year 2024 for the first time in more than two decades ahead of the government&#8217;s attempt to sell the airline. The PIA spokesperson said that the national flag carrier earned an operational profit of Rs3.9 billion and a net profit of [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":52253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13446,2],"tags":[3657,27662],"class_list":["post-70128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-pakistan","tag-pakistan-international-airlines","tag-pia-net-profit"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/70128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=70128"}],"version-history":[{"count":0,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/70128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/52253"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=70128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=70128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=70128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}