Pakistan International Airlines reports net loss for three months ended 30-Jun-07
28-Sep-2007 |
Airline Code [PIA]
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(CAPA) Pakistan International Airlines (PIA) reports the following financial highlights for the three months ended 30-Jun-07.
- Revenue: USD284.6 million, +4.1% year-on-year;
- Operating costs: USD314.6 million, +4.0%;
- Net profit (loss): (USD62.8 million), compared to a loss of USD50.7 million loss in the corresponding period last year
- ASKs: -6.1%;
- RPKs: -7.6%;
- Passenger load factor: 68.6%, -1.1ppts.
Six months ended 30-Jun-07: - Revenue: USD577 million, +3.2% year-on-year;
- Operating costs: USD648.5 million, +1.4%;
- Net profit (loss): (USD128.2 million), compared to a loss of USD101.6 million in the corresponding period last year;
- ASKs: -4.3%;
- RPKs: -4.6%;
- Passenger load factor: 68.3%, -0.2ppts.
Due to intense competition from regional airlines and some capacity limitations on account of EU action, PIA's share of the international market segment declined to 46%, which is 3% less than last year. To deal with the financial loss situation, the Management has urgently undertaken many steps to improve the operating and financial performance of the airline. It has put together a revised operating plan for the Jul-Dec-07 period. This entails shutting down of loss making routes, enhancement of airfares and curtailment of operating costs. For further analysis see the October 2007 issue of Monthly Essential India. Date posted: 28-Sep-07. |
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Pakistan International Airlines reports net loss for three months ended 30-Jun-07 
