Pakistan International Airlines has claimed that it has reached a break even in operating profits.
This has come after a very long time when the revenue has slightly exceeded the operating costs of the national flag carrier. The adviser to the PIA CEO reported that the airlines’s revenue generated this year was Rs.8.5 Billion a month as compared to Rs. 7 Billion last year. The adviser stated that the betterment came after elaborate steps in financial management. The seat occupancy rate per flight has also increased drastically.
PIA Engineering gave its contribution in returning 4 aircraft to service after grounding. Employees have been reduced as well. More flights on profit making routes added to this success.
Another huge factor is a reduced cost of the ticket reservation system which PIA Acquired from Turkey.
The managment of the airline is now set to take the carrier from break even to net profit. Even though it may take a few years. PIA is about to take ambitious steps further under the revival plan.