PIA losses mount over Rs36bln in three months

Karachi: Pakistan International Airlines (PIA) has incurred a substantial loss of more than 36.770 billion rupees in a short span of three months.

The financial results for the quarter ending March 2023 revealed that PIA's loss per share has widened from Rs 2 60 paise to Rs 7 2 paise.

During the January-March 2023 period, PIA recorded an income of 59 billion rupees, reflecting a quarterly increase of 24 billion rupees compared to the previous year.

However, the pre-tax gross profit stood at Rs 5 billion for the three-month period.

A spokesperson stated that expenses on salaries and running costs amounted to 28 billion 55 crore rupees during the last quarter, with salaries and running expenses surpassing the 21 billion rupee mark of the previous quarter.

Authorities highlighted that PIA's fuel expenditure for the March 2023 quarter reached a staggering Rs 25 billion 60 crore.