PIA Revenue Falls 16% in FY2024-25

Pakistan International Airlines (PIA) reported a 16.8% decline in operating revenue for the calendar year 2024, with earnings falling to Rs. 204.16 billion compared to the previous year, according to the Economic Survey 2024-25. Despite the revenue drop, the national carrier managed to turn its fortunes around, thanks to a sharp reduction in operating expenses, which fell 20.8% to Rs. 194.8 billion. This cost-cutting drive enabled PIA to post an operating profit of Rs. 9.3 billion for the year—a rare achievement for the airline, which has struggled with losses for over two decades. The turnaround comes amid ongoing restructuring efforts, including workforce reductions, route optimization, and a renewed focus on operational efficiency. PIA’s improved financial performance has positioned the airline for potential privatization, with government officials highlighting the profit as a sign of successful reforms. However, the drop in revenue reflects ongoing challenges in passenger numbers and operational scale, even as the airline prepares to relaunch flights to Europe and expand its international partnerships.