PIA Holding Company recorded a 42.90 per cent increase in profits in the year 2024, according to its annual audit report.
The report revealed a massive improvement in the company’s financial performance, with losses reduced by 82 per cent compared to the previous year.
The audit disclosed that PIA Holding posted a profit of Rs36.2 billion in 2023. This figure rose to Rs51.74 billion in 2024, marking a notable upturn in the company’s earnings trajectory.
Further, the report stated that the airline’s operational losses decreased to Rs15.35 billion in 2024, reflecting an 82 per cent reduction year-on-year.
However, the company’s revenue saw a decline of 7.68 per cent. Total revenue dropped from Rs259.59 billion in 2023 to Rs239.65 billion in 2024.
The cost of aviation fuel was also reduced by 22.92 per cent during the period. Despite these gains, the company recorded an additional loss of Rs524.58 million.
