[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]Losses reported by Pakistan International Airlines (PIA) increased to Rs. 97.2 billion in calendar year 2022 (CY22), up from Rs. 53.4 billion in calendar year 2021 (CY21).
In contrast to the gross loss of Rs. 8.4 billion reported in CY21, the airlines’ financial results for CY22 showed a gross loss of Rs. 755 million.
The cost of services for the airlines (which includes aircraft fuel and other costs) increased from Rs. 96 billion to Rs. 179 billion in CY22, principally because the price of aircraft fuel increased during the year from Rs. 22.8 billion to Rs. 79.6 billion.
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In comparison to the operational loss the company reported in 2021, which was Rs. 18 billion, the operating loss for the company in 2022 was Rs. 15 billion. In comparison to the net exchange loss of Rs. 7.3 billion reported in CY21, PIA’s net exchange loss in CY22 was Rs. 25.2 billion.
In comparison to the Rs. 28.5 billion recorded in CY21, PIA’s financial costs in CY22 totaled Rs. 51.7 billion. Additionally, in CY22, the corporation reported an unrealized loss on investment property of Rs. 8.3 billion.[/vc_column_text][/vc_column][/vc_row]
