PIA suffers Rs38b loss in first three months of 2023

The Pakistan International Airlines (PIA) has incurred a loss of Rs38 billion in the first three months of this year, marking a significant increase of 171% compared to the same period in 2022.

The financial results of the national carrier for the first quarter of 2023 have been disclosed, revealing the magnitude of the loss.

During this period, the PIA managed to earn only Rs61 billion, while suffering a loss of Rs21 billion due to the depreciation of the rupee against the dollar. Additionally, the rise in oil prices and interest rates also contributed to the airline’s financial challenges.

Negligence in administrative matters led to an increase in operating expenses, which rose by Rs15 billion to reach Rs43 billion.

Bird strikes have also had a detrimental impact on the national flag carrier, resulting in significant losses. In the previous five months, 29 bird hits were reported at domestic airports, with 10 incidents occurring in May alone.

Most of these bird strikes took place at airports in Karachi and Lahore, causing damage to seven planes. One recent incident involved Flight PK-310, an Airbus-320 flying from Karachi to Quetta, which was hit by a bird shortly after takeoff. The aircraft had to return to the airport for inspection, and passengers were accommodated in the lounge while repairs were made. Six blades of the plane’s engine were found to be damaged.

The PIA spokesperson explained that passengers were rerouted to an alternative flight due to the delay in repairing the affected aircraft.

The airline’s administration has released statistics on bird strikes over the past five months, indicating that a total of 10 incidents were reported in various airports, including Karachi, Lahore, Islamabad, Faisalabad, Sukkur, Quetta, Peshawar, Gilgit, and Multan. Karachi and Lahore airports reported the highest number of bird strike incidents, totaling 16.

While 22 of the reported cases did not result in any damage to the aircraft, seven planes suffered damage due to bird strikes. Similar incidents were also reported in Jeddah and Bahrain.

The substantial financial loss and the recurring issue of bird strikes pose significant challenges to the Pakistan International Airlines.