Pakistan International Airlines (PIA) has reported its first annual profit since 2003, signaling a major financial turnaround as the government prepares to privatize the struggling national carrier.
According to official reports, PIA posted a net profit of Rs26.2 billion in 2024, with an operational profit of Rs9.3 billion. The airline generated Rs204.16 billion in revenue while keeping expenses at Rs175 billion, achieving an operating margin of over 12%—comparable to top global airlines.
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Defence Minister Khawaja Asif credited the profit to sweeping reforms, including workforce downsizing, better route management, and a cleaned-up balance sheet. He said the recovery would help restore confidence in the airline and support the national economy.
This financial turnaround comes just ahead of a renewed privatization attempt. The government had failed to sell PIA last year but has now cleared 75% of its debt, attracting fresh interest from potential buyers. Initial bids are expected later this month.
The airline’s revival follows years of losses, bailouts, and operational setbacks. Officials now hope the profitability will boost investor confidence and lead to a successful sale.
