PIA earns profit of Rs 2.83 billion in Q1, 2015

[Kabira]

The PIA has achieved a gross operating profit of PKR 2.83 billion in the first quarter of 2015 as against a gross operating loss of Rs 3.93 billion in the first quarter of 2014.
With the inclusion of fuel efficient, narrow body aircraft, the airline’s operations improved enabling efficiency and better control on fuel cost. The combined effect of downward trend in fuel prices and the impact of replacement of aging fleet with fuel efficient aircraft resulted in almost 49% decline in fuel cost in comparison to the corresponding period of last year.
The airline is in the process of increasing the capacity by inducting more narrow body aircraft. Five ATR’s and two wide body aircraft on dry lease had already been initiated through a transparent and competitive bidding process. Two ATR72-500 have already arrived and are operating. The airline now has four A320 aircraft while nine more will be added starting from June, this year.
With the dedication and commitment of the airline’s management and employees; with new fleet induction, the airline is expected to improve its schedule integrity, market share and profitability in the coming months and can look towards greater customer satisfaction.

PIA earns profit of Rs 2.83 billion in Q1, 2015 | Pakistan Today

 

[Kabira]

In 2013 PIA lost Rs 44 billion, in 2014 Rs 32 billion.

 

[NaMaloom]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

 

[Viper0011.]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

If you think the fuel costs are the only thing to turn around otherwise a bankrupt airline, you are living in a colorful unreal world, without a slightest clue of reality. Reorganization, restructure (purchasing of narrow body aircraft's) and rerouting (few more air ports added which add more local and international flights) is what turns loss into profit.

You gotta have business sense to do these strategic alignments. Its very easy to be an internet warrior and write your opinions about how oil prices change the world. Its much different to actually get inside a badly operating organization and fix it. The later requires leadership and business savvy people to take decisions and get it right.

 

[Icewolf]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

This is a cringe worthy post

 

[That Guy]

It's still running a deficit, so work needs to be done to turn the carrier into a profitable machine. Privatization should help the airline gain the cash it needs to buy fuel efficient air crafts, as well as bringing in more experienced management staff based on merit, rather than family appointment.

 

[Thorough Pro]

Contradiction in your own post, millions in savings does not become billions in profit.
Get PIA financials and look for fuel costs, if the total profit is because of fuel savings then even if the fuel cost became zero, the profit should not exceed that amount.

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

 

[xyxmt]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

a true PTI response

 

[PakGuns]

It's still running a deficit, so work needs to be done to turn the carrier into a profitable machine. Privatization should help the airline gain the cash it needs to buy fuel efficient air crafts, as well as bringing in more experienced management staff based on merit, rather than family appointment.

You are ignoring something...privatization isn't good as it reduces the government earnings applying the left over pressure on taxes thus hike in taxes....There's no rocket science involved to get PIA on track...moreover, there is someone close to zordari and miangi who wants to buy PIA....Plot: the company's income statement is set for loss....it decreases the actual value of the firm...and the company is then sold for nuts...that's how this plot works in Pak sadly....people who thinks that privatization is good, needs to study it again...
And adding to that: the company' shows profits, out of nowhere, in the very next statement after privatization... LOLX

 

[ziaulislam]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

nospinningo f facts just one term has been used called "gross operating" which most of us dont know. in other words they are playing with the ignorance of the common folk.

see PIA had gross loss of just 9 billion last year but total loss of 32 billion. gross operating income means only the operating income, it doesn't contains the payments made in buying equipment or paying off interest on loans.

however it is still a start but it was expected because govt had invested millions in new plans

 

[Muhammad Omar]

What a load of utter nonsense! This is called spinning the facts. The only reason PIA is doing any better is because world oil prices have hit rock bottom, saving PIA millions of dollars on fuel costs.

Or Pakistan me Oil Prices kam Imran Khan k dharnay ki wjha se hui hain

 

[ziaulislam]

Or Pakistan me Oil Prices kam Imran Khan k dharnay ki wjha se hui hain

View attachment 219117

i only know that once dharna was finished an additional 7% sales tax and 10% surcharge was added on petroleum products..

It's still running a deficit, so work needs to be done to turn the carrier into a profitable machine. Privatization should help the airline gain the cash it needs to buy fuel efficient air crafts, as well as bringing in more experienced management staff based on merit, rather than family appointment.

real problem is over 300 billion rupees in loans, who will manage those loans? thats is one of the reason why privatization is not viable unless gov take over these loans

 

[Muhammad Omar]

i only know that once dharna was finished an additional 7% sales tax and 10% surcharge was added on petroleum products..

Did that raised Petroleum Prices?? they increased 7% sales Tax and lower the price by 8 Rs instead of 11 Rs...

 

[ziaulislam]

Did that raised Petroleum Prices?? they increased 7% sales Tax and lower the price by 8 Rs instead of 11 Rs...

and the prices fell all over the world, but due to less fall in pakistan the industrial sector start making less.
the agriculture sector are hitting there head(especially small farmers like my family) as the prices of commodities will fall but oil prices didnt fall. e.g potato price has fallen as international prices are going down but farmers are not making more money as oil isnt going down in pakistan as it should be..

then a disaster strikes you claim it on nature but when a positve turns happen you take the credit yourself!

this govt doing nothing but trying to cover up its total failure in taxation reforms and power sector losses reforms

 

[Hyde]

When we incur losses we curse government

When we make profit we find excuses and curse government

We Pakistanis would never be happy even if PIA posted a gross profit of 100 billion rupees