PIA Reporting Improved Performance for Year 2019

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Abbas Ali
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Re: PIA Reporting Improved Performance for Year 2019

Post by Abbas Ali »

PIA has announced its Audited Financial Report for the year 2019; showing remarkable growth across all parameters. With 43% increase in revenues and 76% reduction in operating losses.

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Abbas Ali
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Re: PIA Reporting Improved Performance for Year 2019

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PIA incurs loss of Rs56bn

May 19, 2020

RAWALPINDI:
Pakistan International Airlines posted loss after tax at Rs56.04 billion in 2019, down from Rs66.66bn in 2018 — showing a decline of 15.9 per cent.

This translated into loss per class A share of Rs10.69, from Rs12.77.

The airlines’ revenues jumped 43pc to Rs147.5bn for 2019, as against Rs103.5bn in 2018.

According to the press release, the company said for the first time in eight years, it has been able to achieve gross profit of Rs7.8bn versus gross loss of Rs19.7bn in 2018.

Source: DAWN

PIA reports Rs56.09bln 2019 net loss

KARACHI:
Pakistan International Airlines (PIA) on Monday reported a net loss of Rs56.03 billion for the year ended on December 31, 2019, compared to a loss of Rs43.98 billion in 2018.


The airlines, in a statement, said it has earned a gross profit of Rs7.8 billion in 2019, compared to a gross loss of Rs19.7 billion in 2018.

PIA said its revenue surged to Rs147.5 billion for the period under review as compared to Rs103.5 billion in 2018, a growth of 43 percent in 2019, while operating loss reduced by a massive 76 percent, compared to 2018.

PIA's seat factor in 2019 stood at 81 percent witnessing an improvement of 4 percentage points as compared to 2018 meeting industry-best scale, it said.

The airlines said improvement of financial results for the year 2019 was mainly due to routes optimisation & fares rationalisation, enhancement of ancillary revenue by double digits, and undertaking stringent cost discipline in all aspects of the business.

Air Marshal Arshad Malik, CEO PIA, the current year 2020 was a very a challenging one for the aviation industry keeping in view the COVID-19 pandemic, adding, extra efforts would be required, and tough decisions needed to be taken for the betterment of the airline.

Source: The News
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Amaad Lone
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Re: PIA Reporting Improved Performance for Year 2019

Post by Amaad Lone »

Bottom line is that PIA still lost 56 billion rupees. That is around $300 million dollars. Or 10 million dollars per aircraft.

Only way to save PIA is to sell the hotels and use that money to pay off the debt and save 32 billion in interest payments.

Expand fleet, increase revenue and hopefully make some profit.
P.I.A

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Abbas Ali
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Re: PIA Reporting Improved Performance for Year 2019

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Abbas Ali
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Re: PIA Reporting Improved Performance for Year 2019

Post by Abbas Ali »

PIA Year 2019 Annual Financial Report available on airline's official website:

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Profit & Loss Statement

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Gross Profit/Loss

Year 2019
7.82 billion rupees profit

Year 2018
19.73 billion rupees loss

Loss from Operations

Year 2019
7.72 billion rupees loss

Year 2018
32.08 billion rupees loss

Loss before taxation

Year 2019
54.95 billion rupees

Year 2018
67.41 billion rupees

PIA Subsidiary

PIA Investments Limited (PIAIL)


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Operating Loss/Profit

2019
73 thousand US dollars loss

2018
5,040 thousand US dollars profit

Loss/Profit After Tax

2019
3,590 thousand US dollars loss

2018
4,712 thousand US dollars profit

PIA Subsidiary

Skyrooms Private Limited


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Net profit before tax

2019
14 million rupees

2018
74 million rupees

Net profit after tax

2019
10 million rupees

2018
60 million rupees

Six-year performance summary

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Categories of shareholders

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