KARACHI: A major milestone has been achieved by Pakistan International Airlines (PIA) as the airline reported its first net profit in over two decades. The PIA Board of Directors officially approved the airline’s 2024 financial results, with a recorded operational profit of Rs 3.9 billion and a net profit of Rs 2.26 billion. This marks the airline’s first profitable year since 2003.
The turnaround is credited to a series of reforms implemented under the guidance of the Government of Pakistan. These include cost-cutting measures, streamlining operations, and restructuring the airline’s balance sheet, all of which have contributed to an operating margin of over 12 percent — placing PIA in league with some of the world’s most successful airlines.
This achievement is expected to restore PIA’s reputation and provide a boost to Pakistan’s economy. Defence Minister Khawaja Asif emphasized the significance of this financial performance, especially in relation to the airline’s ongoing privatization process.
In another positive development, PIA is addressing workforce shortages with a recruitment drive aimed at hiring 20 pilots and 40 cabin crew members. This initiative will help strengthen the airline’s operational capacity, improving service standards on both domestic and international routes.