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PIA recorded Rs 2.84 billion operating profit in 2009

T-Faz

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KARACHI: PIA achieved operating profit of Rs 2.84 billion for the year 2009 after four years of operating losses, operating loss for the year 2008 was Rs 7.3 billion. Managing

Director PIA, Captain Muhammad Aijaz Haroon informed the Shareholders at the 53rd Annual General Meeting (AGM) of PIA on Saturday.

MD PIA said the year 2009 proved to be a challenging year for the national flag carrier as global recession continued to widen financial crisis. Globally, airlines have recorded dips in passenger loads, cargo loads and yields. Higher inflation in the country also exerted pressure on the cost structure of the airline. He added.

He said PIA’s after-tax financial losses decreased to Rs 5.82 billion in 2009 from Rs 36.14 billion in 2008. The airline’s revenue increased by 6.4 percent, yield by 7 percent, and the excess baggage revenue target of Rs1 billion was surpassed by Rs 45 million.

PIA’s Hajj Operation 2009-2010 was conducted with PIA’s own fleet. Flights were operated directly from Karachi, Islamabad, Lahore, Peshawar and Quetta. PIA has begun direct Hajj flights from Sialkot as well. Total of 118,000 hujjaj (pilgrims) traveled to the holy land and got back on PIA aircrafts with a technical reliability of 99.5 percent.

Moreover, Saudi Civil Aviation Authorities awarded a shield to PIA for distinguished passenger handling services at Jeddah and Madinah Airports during last Hajj. MD PIA added.

PIA has successfully adopted e-ticketing. 99 percent of PIA network has been shifted to electronic ticketing from paper ticketing. Web ticketing has been introduced for major domestic flights and over 60 percent of all international stations were operational for web ticketing in the year 2009. Similar arrangements are under way for the remaining stations.

PIA adopted strict fraud detection and prevention methods for e-ticketing through software tool developed in-house, for which the airline was presented an award at the Sabre Global Conference in USA, he added.

Whereas, PIA initiated continuous improvement process such as 6 sigma and lean manufacturing to streamline operations to reduce costs. The airline continued to reap the benefits of the CF6-80C2 overhaul initiated in 2008, this saved PIA $20 million during the year. During 2009, PIA engineering obtained certification from regulatory authorities of Qatar, Indonesia and Zimbabwe for providing engineering services to third party customers to enhance revenue. Travel for tourism to Pakistan remained unfavorable by the foreigners due to grim law and order situation within the country. Still, PIA’s overall capacity and passenger traffic variations are better than many airlines, MD PIA explained.

He said the product quality of the airline both in domestic as well as international traffic has enhanced. Two new flights to Barcelona and Frankfurt started while additional frequencies of flights to Kuala Lumpur and Kathmandu have been added from Islamabad.

Daily Times - Leading News Resource of Pakistan

Finally, :pakistan:.
 
KARACHI: PIA achieved operating profit of Rs 2.84 billion for the year 2009 after four years of operating losses, operating loss for the year 2008 was Rs 7.3 billion. Managing

i don't believe :no:...... i could be profit before tax...may be a typo.
 
Hey T-Faz, i posted it already under the economy section bro..
 
KARACHI: PIA achieved operating profit of Rs 2.84 billion for the year 2009 after four years of operating losses, operating loss for the year 2008 was Rs 7.3 billion. Managing

He said PIA’s after-tax financial losses decreased to Rs 5.82 billion in 2009 from Rs 36.14 billion in 2008.

So in another words PIA achieved operating profit of RS 2.84 billion but after taxes it was still under the loss of Rs 5.82 billion rupees.

So Gross profit = 2.84 billion rupees
Net Profit = -5.82 billion rupees


Well better than last year - good going so far........ in another words 5.82 was paid to the government so that money is also in Pakistan.

Hopefully by next year PIA will be able to boost its income back to Profit in net income too
 
PIA will have to considerably improve its services and reduce its ticket fares before it becomes a profiting company

the arab companies who do business i n pakistan have very cheap tickets and their service is also much better, so even in pakistan, PIA will have to face this tough challenge..
 
It is a great news. But PIA has to work a lot. I think since PIA previous CEO or MD was removed it is going in positive way. Still PIA have to improve in ticketing system some time you find flight full but when you entered in plane and boarding is closed in the flight you will found empty seats:pakistan: more than 50%.

Thanks
 
PIA will have to considerably improve its services and reduce its ticket fares before it becomes a profiting company

the arab companies who do business i n pakistan have very cheap tickets and their service is also much better, so even in pakistan, PIA will have to face this tough challenge..
I can't say about other countries as i always found PIA very competitive when it comes to flight in UK. But i must say PIA must reduce its travel fairs for domestic flights.

You see i am travelling to Norway on 4th May through Ryanair and according to this site its 1153 Kilometers from London to Oslo

Distance between London united kingdom and Oslo norway

and this ticket cost me only 12 pounds for the ticket + 10 for transaction fee for using my debit card.

And when you travel from Lahore - Islamabad that is around 351 Kilometers only and it costs roughly 5000 rupees :cry:

Distance between Lahore pakistan and Islamabad pakistan

For world travel distances you may refer to this link

Travel Distance Calculator and Map between World Cities
 
PIA needs to increase its service its planes! it looses out ALOT to EMIRATES!!! and i don't know but the accounts seem incorrect how can it make a profit it reinstated all the ZARDARI & CO. people who got fired in 96s with full honors and salaries! SHAME what a SHAME! on pakistani media for not objecting to this
 
the mismanagement is a big issue, my uncle works in PIA as an engineer, he says that generally PIA is not at lose, its the loop holes that is wasting its gains u know what i mean.
 
What the price of ticket for karachi to Lahore in PIA ..

Will go after 2 months for Cousin's Wedding :victory:
 
What the price of ticket for karachi to Lahore in PIA ..

Will go after 2 months for Cousin's Wedding :victory:

find out from this site - it varies when day / month / time you want to travel so just browse this site to find the accurate price - you may book in advance to find a cheaper ticket but i must say you should find the fairs from other domestic airlines also they may be a lot more cheaper than that. I am not sure just my opinion

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