After eight years, PIA achieved a gross profit of Rs7.8 billion in 2019 compared to gross loss of Rs19.7 billion in 2018. Its operating loss went down to Rs7.7 billion in 2019 against Rs32.1 billion in the previous year, showing a 75.9% improvement. Earlier, the management set the revenue target at Rs194.5 billion and operating profit target at Rs0.3 billion. However, later, it revised downward the revenue target to Rs94.5 billion and projected operating loss of Rs31.9 billion following the Covid-19 outbreak. PIA management has targeted December 2020 for the restructuring of human resources.

Source: The Express Tribune October 15, 2020 03:22 UTC